Goldman Sachs has invested EUR25 million in EU-wide deposit marketplace Raisin as it prepares for expansion into the $12.7 trillion US savings market.
The new funding bringing the total volume of primary investment in the German startup to €195 million. The fresh injection of capital follows the fintech’s recent series D round of €100 million.
Raisin says the capital will be used to build its stateside presence to prepare a 2020 launch, as well as enter two new European markets within 2019.
Since launch in 2013, Raisin has brokered €14 billion for more than 185,000 customers across the European continent. Offering consumers more than 480 savings products from 80 European partner banks, the company has also built distribution partnerships with N26, Commerzbank, o2 Banking of Telefónica Germany and Yolt among others.
Managing director, Goldman Sachs Principal Strategic Investments, Rana Yared, says: “Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.”