Fintech Raisin reaches important milestone: 30 billion euros of assets under management in savings products

Berlin, Dec 8, 2022. Berlin-based fintech pioneer Raisin has cracked a major milestone. It has exceeded €30 billion in assets in its core business, savings products. In June, Raisin announced that €25 billion in savings products were reached, an increase of €5 billion in just 5 months. Growth was seen in all markets, not just in the core market of Germany. With the UK, the Netherlands and the USA, three further markets are now well above one billion deployed in savings products – an indication of sustainable growth and future potential. This is not only a result of the current market conditions but of the value-add Raisin brings to its customers.

Demand for savings products has risen sharply in recent months as a result of the central banks’ turnaround on interest rates. Raisin helps its customers to reduce inflationary pressures and limit the loss of value of their assets by offering market leading interest rates. This is impressively proven by another figure: Since the company’s inception, Raisin customers and customers of Raisin distributors have earned almost a billion euros in interest.

Katharina Lüth, Chief Client Officer and Managing Director at Raisin comments on the success achieved: “The speed with which we achieved the 30bn AuM in savings products is indicative of the attractiveness of our offering. As a result, we had record months in terms of both the number of new customers and deposit inflows. It proves that our business has established itself as a sustainable and internationally successful model. The renaissance of savings products is not limited to time deposits. With overnights, too, we are now seeing interest rates of well above 1% on our German platform, 2.7% on our platform in the UK and even 4% in the US.”

Raisin’s business model is booming. Many people have discovered the savings platform products in recent years as an alternative to zero and negative interest rates. Since a few months, interest rates have been rising again for a long time making Raisin’s offering even more attractive. Against the backdrop of persistently high inflation and a volatile stock market, demand for time deposits and overnight accounts is on the rise. By cooperating with a large number of specialized banks from EU, UK and the USA that do not operate their own retail business, Raisin is able to offer its customers savings products with attractive interest rates. As alternative funding sources become more expensive and the TLTRO cliff looms, banks are finally turning their attention to retail savers. In 2022 alone, 40 banks have launched on Raisin’s various platforms, including Aareal Bank, Itaú BBA Europe, Tandem Bank, Orange Bank and Sallie Mae.

 

 

About Raisin
Raisin is a pioneer of Open Banking for savings and investment products. The FinTech company provides an open banking infrastructure for the $50+ trillion global deposit market, benefiting banks and savers alike. Savers get a wider choice of attractive products with the ability to move their money freely, while financial service providers get best-in-class marketplace solutions for their own customers, and banks get better access to deposit funding. Raisin operates its own B2C marketplaces – in Europe under the brands Raisin, WeltSparen, Savedo and ZINSPILOT and in the USA under the SaveBetter brand. In Germany, in addition to savings products the company offers ETF-based investment and retirement products as well as Private Equity and Crypto investments. Raisin works with over 400 banks and financial service providers from more than 30 countries and has over 750,000 direct customers. Raisin is backed by renowned international investors such as btov Ventures, Deutsche Bank, FinLab, Goldman Sachs, Greycroft, Headline, Index Ventures, Kinnevik, Orange Ventures, PayPal Ventures, Thrive Capital, Top Tier Capital Partners, Ribbit Capital and Vitruvian Partners, as well as Peter Thiel. The company has offices in Berlin, Frankfurt, Hamburg, London, Madrid, Milan, Manchester, New York and Paris.
www.raisin.com

Press contact
Raisin
Paul Wolter
Head of Communications
+49 151 70 11 1989
press@raisin.com
www.raisin.com