EUR 5 Billion in Brokered Deposits: Raisin Doubles Amount of Savings Deposits in One Year
Berlin, 25 January 2018. Exactly four years after the market entry of Raisin, the leading provider of simple savings and investment products breaks through the EUR 5 billion record mark in brokered savings deposits and leaves the competition behind.
2017 was another record year for Raisin – in the past 12 months, the company was able to increase its total customer deposits by more than EUR 3 billion and to consolidate its market leadership by further success stories: 100,000 customers, 12 additional partner banks, more than 170 offers from over 40 integrated banks and just under EUR 40 million in additional interest income. In 2017, Raisin was also able to generate a positive cash flow in a month for the first time.
“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,” said Tamaz Georgadze, CEO and founding member. “We are pleased to be able to offer savers throughout Europe an attractive alternative.”
One reason for the strong growth is the international positioning of the company: in addition to its home market of Germany, customers from more than 30 European markets are now being served. Last year, the company acquired its British competitor PBF Solutions in order to focus its strengths on the British market – also after Brexit – in a targeted and focused manner. By now, around 20 percent of all new customers are acquired abroad and this share is expected to increase further in the coming years.
Nowadays, clients want low cost, high quality investment products that are available online. In order to meet this demand Raisin will expand its product range and offer its customers investment products in the near future. Raisin will cooperate with its partners DAB BNP Paribas and Vanguard in order to offer its customers globally diversified and cost-effective ETF portfolios.
Well-known investors are also convinced of the company’s future success: PayPal recently invested an undisclosed amount in Raisin.
Since the launch of the German deposit marketplace weltsparen.de in 2014, Raisin has established itself on the market as a leading provider of simple savings and investment products: more than 100,000 customers have invested over EUR 5 billion with 40 partner banks. Raisin is available in English across Europe and has localized platforms in Germany, Austria, Spain, and France. The company closed several financing rounds in recent years, attracting more than EUR 60 million from investors such as PayPal, Thrive Capital, Index Ventures, and Ribbit Capital.