German financial marketplace Raisin, founded by Georgian entrepreneur Tamaz Georgadze, has raised USD 114 million.

Rusbase reports that Raisin’s existing investors Index Ventures, PayPal, Ribbit Capital and Thrive Capital all participated in the round. The total funds raised to date make USD 200 million.

The investment will be allocated for “strategic acquisitions” and further internationalisation. Although available to customers across the EU from the get-go, Raisin  had dedicated market launches in the Netherlands and the U.K. last year. The company plans to add at least two additional international markets in 2019.

Raisin was founded in Berlin in 2013 with the purpose of collecting all savings deposit offers from European banks in one service. The startup’s interface allows opening accounts, shifting between them and choosing the best interest rate.


According to the company, they have brokered more than USD 11 billion in deposits for its 62 partner banks. It claims more than 160,000 customers from 31 different European countries, and says that to date Raisin has helped savers earn USD 90 million in interest.

“We want to break through unnecessary barriers to profitable saving and share the benefits of open markets – with both consumers and banks. Our central aim is to give savers and financial institutions the ‘Schengen experience’ for banking. Our first five years demonstrate that, indeed, Raisin stands for the saving and investing of the future,” said the company CEO and co-founder Tamaz Georgadze.

Before Raisin, he worked in the international consulting agency McKinsey & Company for ten years. For the last three years of his tenure, Georgadze directed Savings and Investment products Service Line for EMEA countries (Europe, the Middle East and Africa).

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