German fintech Raisin, which is backed by Paypal, is buying Frankfurt-based MHB Bank as it seeks to expand business of offering deposit services to retail customers, Raisin's chief executive told Reuters.

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German fintech Raisin, which is backed by Paypal, is buying Frankfurt-based MHB Bank as it seeks to expand business of offering deposit services to retail customers, Raisin’s chief executive told Reuters.