Fintech company Raisin announced the attraction of investment funds for 60 million euros following the results of the Series E financing round.
Existing and new investors of the company took part in this round of financing.
Raisin specializes in savings and investments. The company was founded in 2012. Currently, the firm serves more than 1 million customers. Since its foundation, the company has received 850 million euros in interest. The firm currently manages assets worth 38 billion euros. Over the past six months, the total value of assets has increased by more than 30%.
The company’s services are of interest to consumers who need competitive savings rates. Banks that are looking for attractive sources of retail financing also cooperate with the firm.
As part of the new funds received during the recently completed funding round, Raisin plans to direct actions to expand the access of potential consumers to simple and convenient products. The company also intends to use the investment to create new features. Another direction of using the funds raised will be market growth.
During the latest round, Raisin raised money from two new investors, among them a global financial services institution and M&G’s Catalyst, a $6 billion global private asset target strategy.
Dr. Frank Freund, Chief Financial Officer and Co-founder of Raisin said that the investment represents an important stage in the implementation of the company’s strategy aimed at providing customers in the EU, USA, and UK with simple and honest products.
Niranjan Sirdeshpande, Head of Global Investment at M&G Catalyst, says that Raisin has an impressive growth history. He also noted that the company strives to eliminate barriers and reduce the number of inefficient solutions in the financial sector.
As we have reported earlier, Southeast Asian Credit Fintech Kredivo Scores $270 Million Series D.