- Raisin has amassed investments worth €100 million from key financers like Index Ventures, PayPal, Thrive Capital, and Ribbit Capital.
- With the new investment flowing in Raisin’s total capital raised becomes €170 million.
Raisin, Europe’s financial technology marketplace for investment and savings products, has reportedly amassed investments worth €100 million (USD 114 Million) in a series D funding round from current investors including Index Ventures, Ribbit Capital, PayPal, and Thrive Capital.
If reports are to be believed, this brings the total funds raised by the firm to €170 million (USD 195 Million) and follows its prior €30 million raised via series C round of funding back in the year 2017, as well an undisclosed investment provided by PayPal in December the same year. However, with these latest figures, one can easily estimate that PayPal might have invested approx. €13 million (USD 15 Million) in Raisin before series D, claim market experts.
For the uninitiated, Raisin was founded in 2012 and currently operates in 31 nations. The company leverages EU’s banking regulations in a bid to allow everyone in the union to invest their money with banks in the bloc.
According to a statement given by Raisin, as another $114 million hit the bank the company plans to introduce more markets to its platform in the year 2019, along with making more international hires and enhancing investment products portfolio.
Raisin aspires to break pointless barriers to profit-generating savings and extend the advantages of open markets with both banks and consumers, stated Tamaz Georgadze, the Chief Executive Officer of Raisin. The company’s main aim is to provide financial agencies and savers the ‘Schengen experience’ for banking, added Georgadze.
For the record, since its inception Raisin has brokered over USD 11 Bn in deposits in sixty-two partner banks, with about USD 90 Mn in interest doled out in the process.