What A Performance! Raisin’s Sweet Deal.
If you open an account at Raisin, you’re actually putting your money into one of their partner banks. The benefit is that your deposit is insured, even if Raisin should fail. But it doesn’t look like it will, because they’re going from strength to strength. According to their own press release, the Berlin-based fintech has just raised €60M in a series E funding round, from existing and new investors. Raisin has customers in eight territories and works with dozens of banks and financial services providers. This two-pronged approach is ensuring their growth and success. Though profitable, Raisin intends to use the fresh funding to grow in the United States and to develop new consumer features, i.e. more convenient financial products. Raisin’s mission, according to friendly Chief Financial Officer and co-founder Dr Frank Freund, is to “make money perform better.” Certainly their own seems to be performing very well!