Founded Year

2013

Stage

Merger | Merged

Total Raised

$207.01M

About Raisin

Raisin has built a pan-European digital marketplace for deposits, providing consumers across the continent access to higher-interest deposit products, while also enabling banks to diversify their funding in markets beyond their own.On June 28th, 2021, Raisin merged with Raisin DS.

Raisin Headquarter Location

Schlesische Straße, 33/34

Berlin, 10997,

Germany

+49 (0)30 770 191 295

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Raisin's Products & Differentiation

See Raisin's products and how their products differentiate from alternatives and competitors

  • Savings marketplace

    Raisin, WeltSparen, Savedo, Zinspilot, and SaveBetter are Raisin DS's platforms for end customers, accessible by simple identification and registration process, featuring wide range of deposit products from Raisin partner banks (different products, from different banks, are available in each market).

    Differentiation

    Recognizing significant liquidity imbalances across Europe, resulting in a wide spread in interest rates, Raisin DS’s founders built a platform for consumers to easily access more competitive rates … 

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    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

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    Differentiation

    We're on a mission to enable every organization to make smarter decisions about tech. Whether it's finding a new game-changing vendor or understanding a new market, it's easier, faster and smarter with CB Insights. All made possible by the smartest, hardest-working team in tech. Subscribe to see more.

  • Subscribe to see more

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    Differentiation

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Research containing Raisin

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Raisin in 4 CB Insights research briefs, most recently on Apr 14, 2022.

Expert Collections containing Raisin

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Raisin is included in 3 Expert Collections, including Wealth Tech.

W

Wealth Tech

1,707 items

A category of financial technology that is digitizing & streamlining the delivery of wealth management. Included: Startups that offer technology-enabled tools for active and passive wealth management for retail investors and advisors.

F

Fintech 250

748 items

F

Fintech

4,692 items

Track and capture company information and workflow.

Raisin Patents

Raisin has filed 4 patents.

The 3 most popular patent topics include:

  • Data management
  • Trees (data structures)
  • Derivatives (finance)
patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/2/2020

9/7/2021

Financial markets, Data management, Systems engineering, Trees (data structures), Derivatives (finance)

Grant

Application Date

6/2/2020

Grant Date

9/7/2021

Title

Related Topics

Financial markets, Data management, Systems engineering, Trees (data structures), Derivatives (finance)

Status

Grant

Latest Raisin News

Drastic Devaluation: Raisin Loses Unicorn Status

May 20, 2022

Raisin had, after all, merged with its Hamburg-based rival Deposit Solutions (“Zinspilot”) last summer. Strictly speaking, the roughly $741-$953 million (€700-€900 million) are the combined valuation of two highly valued local fintech companies. Both the old Raisin and Deposit had raised a great deal of funding in the years before Corona, so they were and are certainly not under pressure to raise fresh funds. 0 Berlin-based fintech company Raisin (“Weltsparen”) has lost its Unicorn status for the moment. According to research by Finanz-Szene.de, Swedish investor Kinnevik values its stake in the deposit broker at only 185 million Swedish krona- the equivalent of $18.9 million (€17.9 million)- as of the end of March. Compared with the fair value at the end of December $24.9 million (247 million Swedish krona), this represents a fairly drastic devaluation of around 25% within just three months. In its Q1 report, Kinnevik puts its own stake in Raisin at a rounded 2%. Extrapolated, this would correspond to an enterprise value of roughly $948 million (€895 million). According to the latest available list of Raisin shareholders, the Kinnevik stake as of December 9th last year was actually 2.48%. If this has not changed by the end of March, the “Weltsparen” parent would only have a valuation of $762 million (€720 million). Now, to a certain extent, such calculations are of course always gimmicks. Particularly as this is the assessment (which is also slightly distorted by currency effects) of a single investor. It may be that other shareholders continue to assign a higher value to the Berlin-based financial startup. And to be fair, it must also be emphasized: Raisin’s management has never commented on its valuation, so it has never claimed unicorn status for Raisin. However, all this does not change the fact that the rating is quite a disappointment when measured against the expectations of the scene. Because, just as a reminder: Raisin had, after all, merged with its Hamburg-based rival Deposit Solutions (“Zinspilot”) last summer. Strictly speaking, the roughly $741-$953 million (€700-€900 million) are the combined valuation of two highly valued local fintech companies; and … After a valuation in the billions had already been proclaimed from the circle of shareholders for Deposit Solutions alone in 2019, the recognized industry magazine “Deutsche Startups” even put a price tag of $2.65 billion (€2.5 billion) on the merger company last summer. The $741-$953 million (€700-900 million) that Kinnevik (a VC known to be highly reputable) is now quoting are miles away from that. Read more about Raisin and find the latest business news of the day with the Born2Invest mobile app. Raisin is growing – but not as much as hoped for In fact, there is a whole series of indications that suggest that the meager valuation should not be dismissed as gimmicky. Rather, it should be seen as the result of a certain loss of traction. On request, Berlin emphasizes that it has generated steady growth in recent years “despite an unfavorable interest rate environment for our business model” – on average more than 40% per year. Nevertheless, for classification: At the end of 2019, it had still been said in an interview that in that year “the key figures had approximately doubled”. With the publication of business results, the deposit broker traditionally holds back. However, a few figures have become public over the years – and these also indicate that the business with the brokerage of overnight and fixed-term deposits has developed less rapidly than investors had originally hoped. For example, in 2020 (the last year before the merger), earnings at Deposit Solutions did not increase – instead, they fell by 9% to $17.9 million (€16.9 million. Now, special effects did play a role here, namely the loss of two large “product banks”, including, according to our information, the then HSH Nordbank (the “product banks” are the banks where the deposits end up…). And yet: It is highly unusual for the earnings of a highly funded growth company to decline on an annual basis. At the old Raisin, on the other hand, the most recent business figures that can be viewed are from 2018; they are considered to be of only very limited significance. However: At $18.2 million (€17.2 million), the Berlin-based company fell well short of its target for that year (which had been set at $24.6 million (€23.2 million). At least one indication that Raisin also did not progress as quickly as hoped in the years before the merger. “As a startup, we set ourselves very ambitious goals,” Berlin says in this regard. The interest rate environment had developed differently than hoped, resulting in the company’s growth “being pushed back a bit.” There are also more recent warning signs. Thus Finanz-Szene and our partner medium Finance Forward learned in the autumn of 2021 from several source in agreement that it should give in the course of the fusion of Raisin and Weltsparen by year-end a large financing round. However, this never happened. The reasons are unclear – but it would be reasonable to assume that the management at the time was not able to push through the valuation that was considered appropriate. Raisin does not want to comment on this complex. Now it must be emphasized: Both the old Raisin and Deposit had raised a great deal of funding in the years before Corona, so they were and are certainly not under pressure to raise fresh funds. At the same time, however, this makes Raisin/Deposit the only major German fintech that has not announced a funding round since the outbreak of the pandemic. The last Raisin funding dates back to July 2019 (i.e. 34 months ago), for Deposit it was September 2019 (i.e. 32 months ago). Most recently, Raisin has been in more of a consolidation mode Whether the merger of the two deposit brokers should be interpreted as a defensive alliance in retrospect remains to be seen. However, there are many indications that Raisin must have been in a kind of consolidation mode recently. At least the number of employees registered with Linkedin has been stagnating for some time. According to figures from the career network, the number of employees has shrunk by 3% over the past two years and by 1% over the past twelve months. The figures are adjusted for the effect of the acquisition: Of the 494 employees Raisin counts on Linkedin, 110 work at the Hamburg site – the former headquarters of Deposit Solutions. With interest comes growth – that’s the calculation Nevertheless, recent business policy decisions also speak in favor of the consolidation thesis. At the beginning of May, for example, Raisin terminated all of its “business customers” and wants to focus completely on retail customers for the time being – a drastic cut, especially since this affects not only deposit brokerage, but also the retirement provision product. However, the company emphasizes that no business will be closed down. This also applies to the USA, where, according to information from Finanz-Szene, one of the two country heads recently left, namely Paul Knodel (the other US head, namely Philipp von Girsewald, is still on board). “In the U.S., we want to grow and see great potential in this market,” the Raisin statement reads. “Especially in the last weeks, the U.S. developed very dynamically for us, driven by the interest rate development. Not only did we gain many clients, but we were also able to significantly increase assets under administration.” In fact, the reference to the interest rate development is important – especially since the interest rate turnaround is now also beginning to take shape in Europe. Raisin’s reasoned calculation is that if nominal interest rates rise, investors will also become more interested in deposit products again – and then the traction that has evidently been lost somewhat recently will also kick in again. “The emerging interest rate turnaround within the EU will mean that our growth will increase significantly – and in a very stable way for the next few years. In the U.S. and the U.K., we are already seeing significant growth increases as a result of the interest rate steps taken by the respective central banks in combination with a currently gloomy outlook on the stock markets,” the statement says – which sounds quite plausible. And so it cannot be ruled out that Raisin will not only go down in history as the German fintech that was the first to lose its Unicorn status – but also as the fintech that was able to win it back soon after. __ DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our  disclaimer  for more information. This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these  important disclosures . First published in  finanz-szene.de , a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail. Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Raisin Web Traffic

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  • When was Raisin founded?

    Raisin was founded in 2013.

  • Where is Raisin's headquarters?

    Raisin's headquarters is located at Schlesische Straße, 33/34, Berlin.

  • What is Raisin's latest funding round?

    Raisin's latest funding round is Merger.

  • How much did Raisin raise?

    Raisin raised a total of $207.01M.

  • Who are Raisin's competitors?

    Competitors of Raisin include Betterment, Folio, Human Interest, ForUsAll, Wealthsimple and 8 more.

  • What products does Raisin offer?

    Raisin's products include Savings marketplace and 3 more.

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