Raisin, the Berlin-based savings marketplaces, says it is on the lookout for new acquisitions after raising an additional €25m from Goldman Sachs.
The new capital comes just after Raisin closed a €100m Series-D round in May, and brings the total amount raised by the company to €195m.
Admittedly, much of the cash will be swallowed-up by Raisin’s planned US launch next year, and an expansion into two more European markets.
But Frank Freund, cofounder and chief financial officer, says the company, which acquired PBF Solutions, a provider of bank onboarding and marketing services, in the UK in 2017 and MHB Bank in Germany earlier this year, is looking for acquisitions, too, in order to expand the range of products it offers.
“We always said the savings space was just the beginning for us,” he says. “These acquisitions have proven very successful and we would like to expand the portfolio into areas like retirement planning, for example,” he says.
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Raisin started in 2013 by offering savers the ability to make deposits across European banks, wherever they could get the best interest rates. Since then it has expanded into areas like investment management through a partnership with Vanguard last year,
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