European savings marketplace Raisin has closed a $114 million Series D funding round, with plans to spend it on strategic acquisitions and further international expansion.
Existing investors Index Ventures, PayPal, Ribbit Capital and Thrive Ventures all participated in the round, which brought the total raised by the German startup to $200 million since launch in 2012.
Currently present in seven European markets, the FinTech intends to move into two new countries over the coming year.
The Raisin platform connects 62 partner banks - including Belgium's biggest bank KBC, ICICI Bank UK and the German digital banking as a service platform solarisBank - with more than 160,000 Raisin customers from 31 different European countries, brokering more than $11 billion in deposits since inception.
“Raisin has realised its vision of a single market for savings and investment products,” commented Neil Rimer, partner at Index Ventures. "Using their Raisin account, people can choose savings and investment products among hundreds of offers from dozens of institutions in multiple countries and invest instantly with a few clicks."
At the end of January, Raisin teamed up with Santander to launch an Open Banking-enabled service which allows customers in Spain to integrate their financial data with the savings app.
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