Berlin’s Raisin announces $32 million round to continue its international fintech expansion
By Chris O’Brien for VentureBeat
Fintech startup Raisin said today that it has raised another $32 million in funding, bringing its total raised to $64 million as it seeks to expand its next generation banking service across Europe.
The company offers a marketplace that lets clients compare and open accounts at banks across Europe. Overall, the European financial system remains a fractured one, with banks generally unable to operate across borders. Raisin has made progress by bridging that divide.
“Our goal is to continuously strengthen Raisin’s innovative proposition and to become the go-to-marketplace for all Europeans for their savings and investment needs,” said Tamaz Georgadze, cofounder and CEO of Raisin, in a statement.
The latest round was led by U.S.-based Thrive Capital, but also included previous investors Ribbit Capital and Index Ventures.
“We are proud to support the incredible team at Raisin as they continue to build on their success providing the leading marketplace for savings across Europe” said Jared Weinstein, partner at Thrive Capital, in a statement.
Raisin certainly appears to have a lot of momentum. The company says it tripled the amount of funds that passed through its marketplace last year. And it doubled the number of banking partners last year to 27. That growth was driven in part by an expansion last year from just Germany and Austria to 31 European countries.
The platform generally is available in English, but the company continues to develop local language versions. It also hopes to use the latest round to expand the investment and savings options it offers and to push deeper into the countries where it now operates.
First appeared at VB