Newly-founded PEAC Bank offers fixed-term products via Raisin’s German platform
Fintech Raisin has signed on to support the new PEAC Bank in its entry into the deposit business. The Hamburg-based PEAC (Pan-European Asset Company) Finance Group was granted a banking license by the German Federal Financial Supervisory Authority in December of 2020. The company now offers deposits for private customers under the PEAC Bank brand, marketing its savings products exclusively via Raisin’s German deposits marketplace WeltSparen (https://www.weltsparen.de). Customers can open the interest-bearing accounts, with terms from three months to five years, through an entirely digital process on the WeltSparen platform.
Raisin CEO and co-founder Dr. Tamaz Georgadze explained: “We’ve built Raisin to be the first port of call, as a pan-European platform, for financial institutions like PEAC Finance. In near record time we were able to implement a fully digital deposit offering with multiple maturities for PEAC Bank. This launch demonstrates that we can provide financial institutions with access to new, stable, and very flexible funding sources within a matter of days or weeks, with minimal effort — thus enabling another bank to enter the deposit market quickly. We have successfully implemented Savings-as-a-Service with a “plug-and-play” approach for financial institutions in a variety of European markets as well.”
Specializing in investment and sales financing for a range of financial products and industries, PEAC Finance supports medium-sized companies in seven countries where the company has established offices with localized capabilities.
PEAC Finance CEO Dr. Thomas Söhlke added: “With Raisin, we found the right partner to launch our deposit business and drive it forward in the most expedited manner. Through the cooperation we tap into a flexible refinancing platform and can thus effectively support our business with medium-sized corporate customers. Cooperation with fintech companies is additionally part of our digitalization agenda for the further expansion of our modern financing solutions.”
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 29 billion EUR for more than 315,000 customers in 28+ European countries and 104 partner banks. Raisin was named to Europe’s top 5 fintechs by the FinTech50 awards and is backed by 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, Raisin Pension, and Raisin Technology and Raisin U.S. all belong to Raisin.
About PEAC Finance
As a provider of integrated financing solutions, PEAC Finance has been a partner to medium-sized companies for around 50 years, specialising in investment and sales financing for a range of asset classes and industries. With the PEAC Finance platform, the group also offers financing-specific services for other financial service providers and manufacturers, as an IT and business service partner. PEAC Finance currently has offices in Germany, France, Austria, the Czech Republic, Hungary, Poland and Russia and employs more than 400 people. Its sister company PEAC UK is also active in Great Britain. PEAC Finance serves 60,000 customers from the SME sector, with total assets as of 2019 amounting to EUR 1.8 billion. The total portfolio under management, including IT and business servicing, is around EUR 5 billion.
Raisin / WeltSparen
Nicole Scheplitz & Mathias Paul
Tel: +49 (0)160 218 65 24
Tel: +49 (0) 40/23626 5264