Raisin is the First European Investment Fintech to reach EUR 1.7 billion as the 20th Partner Bank joins
Berlin, September 27th, 2016 – Just 5 months after becoming the first European Fintech in the investment area to reach 1 billion Euro, Raisin proudly announces to have reached more than EUR 1.7 billion in invested volume. As of today and thanks to the availability of its platform across the entire European Union, over 50.000 customers have trusted Raisin and invested this milestone amount with Raisin’s partner banks.
“Raisin is not just one of the few truly pan-European startups, but also the only European startup on the investment side to have reached the amount of EUR 1.7 billion invested – 5 months faster than Betterment and Wealthfront – the only other two investment FinTechs to have made it into multi-billion asset size” declares Dr. Tamaz Georgadze co-founder and CEO of Raisin. He continues that “Achieving the second billion is now in very close reach and we expect to reach it before the year is over. Reaching the second billion is definitely easier than the first”.
This landmark amount does not only represent a tremendous business success for Raisin. It also translates to Raisin customers earning more than five-fold the interest they would have earned if they had invested at average interest rates since the launch of services. Raisin savers thus gain a significant upside in today’s low interest rate environment.
Reaching this milestone also coincides with a second important milestone for Raisin as today its 20th partner bank joined the platform: Haitong Bank from Lisbon.
Haitong Bank is a Portuguese subsidiary of Haitong Securities, founded in 1988 and counting over 340 subsidiaries, 7.7 million private clients and more than 24,000 institutional and private banking clients in Greater China. In addition to the Chinese market Haitong has a particular focus on the markets in Great Britain, Spain, Portugal, Poland, Brazil, USA and India. “We are very proud of this new cooperation and to have such a renowned partner as our 20th partner bank.” said Dr. Tamaz Geordgaze.
Incumbent banks continue to offer either zero-rate offers to their customers or recently even launched efforts to charge negative rates to their SME and retail clientele. In this environment Raisin and its partner banks continue to provide savers across Europe with attractive and exclusive offers for their savings.
About Raisin GmbH
Under the brands WeltSparen and Raisin, Raisin GmbH has offered an online marketplace for deposit products of partner banks in the European Economic Area since 2013. With the launch of Raisin, the platform is now available across Europe. Raisin gives customers the possibility to open deposits at attractive interest rates across Europe free of charge. Previously, customers had to contend with varying, complex account opening procedures in foreign languages, sometimes requiring physical presence in the country. These are no longer a concern with Raisin.
All deposits are 100% protected up to €100,000 per saver and bank by each national Deposit Guarantee Scheme in accordance with EU directives. Raisin doesn’t charge any set-up fees and offers attractive interest rates via its 20 partner banks.