N26 and Raisin partner to offer innovative savings products at attractive rates

BERLIN – May 10th, 2017

Thanks to a new partnership with Raisin, N26 clients can now open fixed term deposits at very attractive rates at several European banks with only a few clicks. With almost 400.000 customers between them across Europe, mobile banking platform N26 and deposit marketplace Raisin are among the leading FinTech companies in Germany. Currently, the offering is only available for clients in Germany, but will be launched in other European countries later this year.

All over Europe, interest rates on savings accounts are low and steadily decreasing. N26 account holders will now have access to several of Raisin’s European partner banks, which offer significantly higher interest rates. Depending on the amount the customer wishes to deposit and the chosen term, the customer gets an overview of the best available interest rates at the selected partner banks. As with all N26 offers the savings accounts can be opened in a few clicks and customers instantly receive a summary of the interest gains they will receive at the end of the term.

All deposits are protected up to 100,000 euros per saver and bank by the National Deposit Guarantee Scheme in accordance with EU directives.

“With N26 Savings we offer our clients a new, innovative savings product at very attractive conditions. Thanks to our partnership with Raisin, our clients can benefit from the highest interest rates available, with only a few clicks and directly on their smartphones“, says Valentin Stalf, founder and CEO at N26.

“This solution is not only very comfortable for the clients, but it is a real innovation“, says Tamaz Georgadze, founder and CEO at Raisin: Thus, it is the first time that a savings service is processed within another provider. The data is exchanged through a modern API interface and can be integrated within only a few weeks into an app, an online banking or an online portal. „We are delighted to have N26 as a first partner for this new product“, says Georgadze.

With N26 Savings, N26 now also digitizes term deposit offers. As with checking account, credit, investment and international transfers, N26 combines attractive conditions with a very easy user experience. Instead of developing all products themselves, N26 collaborates with selected innovative FinTech companies as well as with traditional providers. Later this year, overnight savings will be added to the savings offering. N26 is also currently developing new initiatives to enable customers to manage their insurance policies online.


About N26:
N26 is Europe’s first Mobile Bank with a full European banking license and is setting new standards in banking. N26 has redesigned banking for the smartphone, making it simple, fast and contemporary. Opening a new bank account takes only eight minutes and can be done directly from your smartphone. Users can send money in real time with a few klicks to friends and contacts by email or text message. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, today N26 has 200 employees and more than 300.000 customers in 17 countries: Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Portugal, Slovakia, Slovenia, and Spain. Since January 2015, N26 has been available for Android, iOS, and desktop. N26 has raised more than $55 million from investors including Li Ka-Shing’s Horizons Ventures, Battery Ventures and Valar Ventures, in addition to members of the Zalando management board, Earlybird Venture Capital and Redalpine Ventures.

About Raisin:
Raisin GmbH opened its online marketplace for European savings products in Germany in 2013. Since then, more than 75,000 customers have invested over 3 billion euros ($3.3 bn; £2.5 bn) at more than 30 partner banks. Raisin is available in English across Europe (www.raisin.com) and has localized platforms for Germany, France, Spain, and Austria. Raisin was one of the Top 50 fintech companies in Europe in 2016. It is one of the best capitalized and financed fintech companies in Europe as it collected 60 million euros ($65 million; £50 million) in several financing rounds from investors such as Index Ventures, Ribbit Capital and Thrive Capital.


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