Raisin's
cofounders, from left: Michael Stephan, Tamaz Georgadze, and
Frank Freund.
Raisin
Raisin lets people put money into savings accounts
across Europe from one platform.
The four-year-old startup said on Thursday that €5
billion has now been invested using its platform.
LONDON — German fintech business Raisin on Thursday said that
more than €5 billion has now been invested using its savings
tool.
Raisin, launched in 2014, lets people invest in savings accounts
across Europe from one platform. It has over 40 banks on its
platform and said on Thursday that it now has 100,000 customers.
Deposits made across its platform more than doubled in 2017,
rising from €2 billion at the start of last year.
CEO Tamaz Georgadze said in a statement: "In times of negative
interest rates, many banks are not interested in their customers'
deposits and therefore offer them zero or even negative interest
rates. We are pleased to be able to offer savers throughout
Europe an attractive alternative."
The highest interest currently offered on Raisin's platform is
1.92% from a Czech bank.
Raisin is available in English across Europe and has localized
platforms in Germany, Austria, Spain, and France. The company has
raised over €60 million in funding to date from investors
including Silicon Valley's Ribbit Capital,
New York tech fund Thrive Capital, and PayPal.
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