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Berlin based deposit marketplace Raisin, formerly known as SavingGlobal, has raised €30m in Series C funding led by NYC based Thrive Capital. Raisin operates as an online marketplace for foreign fixed deposits in Germany. The company’s services include deposit insurance guarantees absolute security and premature termination. It also provides online banking services.
Raisin will invest the funds back into the product and its ongoing internationalisation by launching in Italy. It recently launched in Spain, bringing its reach to 31 countries, and celebrated €1.7 billion worth of investments in September. “Our goal is to strengthen Raisin’s innovative proposition and to become the go-to-marketplace for all Europeans for their savings and investment needs.” said Tamaz Georgadze, CEO of Raisin. “Europe is a continent of savers who tend to put 70-80% of their liquid assets into accounts earning almost zero interest and despite this, they hardly ever switch banks,” said Neil Rimer, partner at Index Ventures. "The €2 billion that European savers have deposited with Raisin proves that offering higher interest rates and making it easy and painless for people to move their deposits between banks is an attractive proposition.”
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