Raisin, the Germany-based operator of an online marketplace for savings and investments products, picked up €25m ($29m) in funding today from investment bank Goldman Sachs.
Founded in 2012 as SavingGlobal, Raisin operates a marketplace for consumers and small businesses to access more than 480 savings products across 80 partner banks throughout Europe.
Raisin has attracted more than 185,000 customers to date and brokered more than $16.4bn. The company has also entered into partnerships with digital banks such as N26 and O2 Banking of Telefónica to offer its services to their customers.
The cash injection will enable Raisin to expand into the US, targeting a launch in 2020, and enter two additional European markets this year.
Raisin now has secured a total of €195m ($228m at current exchange rates), it said in a press release, though it has not disclosed all historical funding details.
The company closed a $114m series D round in February 2019 with commitments from payment technology provider PayPal, Index Ventures, Ribbit Capital and Thrive Capital.
PayPal previously invested an unspecified sum in Raisin in late 2017, after Thrive Capital had led a $31.7m series C round in January that same year.
The series C round also featured Index Ventures and Ribbit Capital, the same two firms that had backed a $21.8m series B in 2016 together with Yuri Milner and Tom Stafford.
Rana Yared, managing director of Goldman Sachs Principal Strategic Investments, said: “Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.”
