FinLab AG

FinLab's portfolio company Raisin secures €60M in Series E funding round, reinforcing its position as a pioneer in the German fintech ecosystem.

EQS-Media / 23.03.2023 / 14:19 CET/CEST   Frankfurt am Main, February 17, 2023 - FinLab AG (WKN 121806, ISIN DE0001218063, stock ticker A7A.GR) is proud to announce that its portfolio company Raisin, one of the first German fintech unicorns, has successfully secured €60 million in a series E funding round from existing and new investors. This funding round was led by prominent global financial services institutions including M&G’s Catalyst, a $6 billion purpose-led global private assets strategist, alongside existing investors such as Goldman Sachs.

Since its founding in 2012, Raisin has generated €850 million in interest for over 1 million customers globally, and currently manages a total of €38 billion Assets under Management (AuM) for customers. In the past 6 months alone, AuM grew by more than 30%, and Raisin has been profitable for half a year.

Raisin's mission is to provide simple and convenient savings and investment products to consumers globally, and with this new investment, the company aims to give more consumers access to such products by investing in new features, even simpler processes, and broader accessibility. Additionally, Raisin plans to accelerate growth in expanding markets such as the United States, where it already manages significantly over $1 billion AuM for customers.

Dr Frank Freund, Chief Financial Officer and Co-Founder of Raisin, commented, “We are delighted to continue our growth trajectory together with our partners and to welcome our new investors in our mission to make money perform better. With the new commitment, we will be better positioned to bring value to even more consumers and partners. We are thrilled that we can thereby make a valuable contribution to the functioning and the efficiency of the financial market.”

Falk Schäfers, member of the managing bord at FinLab AG, stated; “The success of this funding round is a testament to Raisin's innovative solutions and disruptive influence in the financial technology industry. As a pioneering unicorn in the German fintech ecosystem, Raisin has consistently demonstrated its ability to deliver exceptional value to its customers, achieving remarkable results in its savings and investment products. We at FinLab are delighted to have supported Raisin in its growth journey and are confident that this new investment will further fuel its mission of democratizing the global savings and investment market by offering simple, convenient, and accessible products to customers worldwide.”