The unfinished EU single market for financial services: With consolidation, Raisin takes on European promise of single market 


  • All continental Raisin customers now access their deposits through Raisin Bank
  • Previously managed by Keytrade Bank, Raisin services move in-house
  • Pursuant to the EU’s single market ideal, customers now receive a uniform range of services

Last year’s acquisition of Raisin Bank (formerly MHB Bank) has enabled the wealth management fintech Raisin to bring its customer services under one roof. Until now, Raisin customers across Europe opened a service account with Belgium-based Keytrade Bank as part of signing up with Raisin and transferring funds into competitive deposits on the Raisin marketplace. The consolidation means Raisin can now offer uniform banking services to all of its continental European customers. The ensuing expansion of the cooperation with Raisin Bank has also underscored the bank’s own ambition to grow as a partner for European fintechs.

Securing and expanding the value chain

Keytrade Bank, the Belgian branch of Arkéa Direct Bank SA, part of Crédit Mutuel Arkéa, was actively involved in Raisin’s European growth from the start, as a reliable partner providing Raisin customers with holding accounts. Raisin’s acquisition of MHB Bank in 2019, however, delivered opportunities for the fintech to expand its value chain in banking and financial services on the one hand, and streamline its banking processes on the other. Today a significant step has been completed, with all European Raisin customer accounts now successfully transferred from Keytrade Bank to Raisin Bank in Frankfurt. German and Austrian customers, as well as customers of Raisin Bank’s Irish platform, were already provided service accounts by Raisin Bank. Raisin’s UK subsidiary continues to partner with Starling Bank on customers’ holding accounts.


Raisin VP Europe Katharina Lüth (c) Lukas Schramm

Raisin Vice President Europe Katharina Lüth, responsible for Raisin’s European business, said: “We’re grateful to Keytrade Bank and their fantastic team for the outstanding collaboration from day one. The now complete transfer of customer accounts from Keytrade Bank to Raisin Bank is a logical consequence of the takeover of Raisin Bank last year. We benefit as a result of the wide range of synergy effects within our group of companies and, as a European company, are thus consistently living the idea of a European single market. Going forward, our customers – as well as our partner banks and other business partners – will receive all their services consistently and from a single source.”


Raisin CCO Dr. Andreas Wolf (c) Lukas Schramm

Dr. Andreas Wolf, Chief Commercial Officer of Raisin Bank: “As a banking-as-a-service provider, we work with a large number of fintechs, investors, and funds. A European orientation is firmly anchored in our DNA, not least because the bank was formerly founded as a Central European commercial bank. Since then we have gained numerous European partners as well as been able to support German companies in their European expansion. This is also reflected in the migration of Raisin customer accounts from over 31 countries and our close partnership with Raisin overall. We’ve additionally brought on a number of new partners this year, including Billie, Vanta, and Maturus Finance, that are pursuing European-oriented business models.”


About Raisin

A trailblazer for open banking and the leading pan-European one-stop shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin’s platforms — under the brand WeltSparen in the German-speaking world — are breaking down barriers to better savings for European consumers and SMEs: Raisin’s marketplace offers simple access at no charge to attractive and guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios and pension products (currently available in Germany). With one online registration, customers can choose from all available investments and subsequently manage their accounts. Since launch in 2013, Raisin has placed 23.5 billion EUR for more than 265,000 customers in 28+ European countries and 92 partner banks. Raisin was named to Europe’s top 5 fintechs by the renowned FinTech50 awards and is backed by prestigious European and American investors such as btov Ventures, Goldman Sachs, PayPal Ventures, Thrive Capital, Index Ventures, Orange Digital Ventures and Ribbit Capital. Raisin UK in Manchester, banking-as-a-service provider Raisin Bank in Frankfurt, pensions specialist fairr, and Raisin Technology (formerly Choice Financial Solutions) all belong to Raisin.

About Raisin Bank

Raisin Bank has been a wholly owned subsidiary of Raisin GmbH since April 2019 and has been operating under this name since August 2019. The bank’s growing expertise has been expanded to include banking-as-a-service models since the takeover. With a wide range of innovative, tailor-made and reliable services, Raisin Bank aims in particular at Europe’s fast-growing fintech community. Since its foundation in 1973, Raisin Bank, based in Frankfurt, has focused on serving business customers. It offers competent advice and efficient solutions, especially when it comes to processing loan portfolios and the demands of select borrowers. After the takeover of the company, then still known as MHB-Bank AG, by the US investment company Lone Star in 2005, the focus was on servicing loan portfolios.

Header image: by Jan-Philipp Thiele on Unsplash

Press Contact:
Corporate Communications
Roland Panter
Tel. +49 (0)160 218 65 24

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