Describe the company – the elevator pitch …
Raisin is Europe`s leading savings marketplace and a FinTech50 company. Europe has a common market and a common currency, but it still lacks a common financial market. Savers in certain countries obtain lower interest rates than in other countries. We allow savers anywhere in Europe to obtain higher interest on their deposits regardless of where they reside by providing them access to savings products from banks across the EU all fully online and via one single platform.
How are you different?
We are the leader in our league. We were the first deposit marketplace to be established in Europe. We are market leaders in terms of customers, investments and number of partner banks: over 60,000 customers have deposited more than EUR 2.5 billion in our 27 partner banks from 16 European countries. We have 5 platforms in 4 different languages (English, German, French, and Spanish).
Why will the company / product do well?
We offer customers deposits with substantially higher interest rates than they could otherwise obtain in their home country – all of them 100% covered by the respective national deposit guarantee schemes. We provide a very straightforward and fully-online account opening process as well as a one-stop solution to managing multiple savings accounts. Our service is transparent with no hidden fees.
Where are you based?
We are based in Berlin, Germany’s vibrant start-up hub.
When was the company launched?
The company was founded in the end of 2012 and went live in Germany end of 2013. In 2016, we launched our international business.
What have been your biggest wins to date?
- The trust our customers have put in us by investing EUR 2.5bn via the Raisin platforms
- The over €60 million which investors such as Thrive Capital (Spotify, Slack, Oscar), Palo Alto-based Ribbit Capital and Index Ventures have invested in our company.
- The fact that 97% of our current customers are satisfied with our service.
- The press coverage we have garnered from The Economist, the Financial Times and the Wall Street Journal
What type of people (market segment) are you trying to attract to your product?
Savers who are unhappy with the returns on savings deposited with local banks and would like to receive higher returns on their savings accounts without having to switch bank accounts every 6 months or so.
Tell us about your team?
We have an amazing team of 70 people that come from over 20 countries on 5 continents. Combined they have roughly 350 years of professional experience and help us to bring the best to our customers every day.
What are you long term plans for your product / company?
We want to be the pan-European marketplace for simple savings and investment products: imagine the Amazon for savers.
What are your favourite tech gadgets?
I am maybe a bit old fashioned but the gadget I use most is my Ipad. I take it almost everywhere I go.
What tech gadgets do you wish you could use to help you?
I am really excited about the prospects of VR glasses and what will be possible with them once the technology is a bit more matured.
How do people get in touch with you?
We are always happy to hear from people who are interested in Raisin. Our website www.raisin.com is the surest way to reach us independent of whether you are looking for partnership opportunities, open job postings or information on how to become a customer.