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Goldman Sachs invests €25m in Raisin

Sam Monk | 09:00 Wednesday 17th July 2019

Goldman Sachs has provided €25m of funding to Raisin.

The German fintech will use the investment to build its stateside presence in preparation for a 2020 launch in the US savings market, as well as entering two new European markets in 2019.

Raisin — which has built distribution partnerships with N26, Commerzbank and Yolt, among others — also aims to further advance its technology, expand its workforce and broaden its product portfolio.

Since launching in 2013, the fintech has brokered €14bn for over 185,000 customers across Europe.

“Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base,” said Rana Yared, managing director of principal strategic investments at Goldman Sachs.

“We are excited to support the company’s outstanding management team in executing their vision.”

Dr Tamaz Georgadze, co-founder and CEO at Raisin (pictured above), added: “This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as growth strategy, are on the right track.

“We’re really proud to have Goldman’s backing, especially given the expertise in investment products, along with an extraordinary 150-year history and record of success.”

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