Connect with us


Berlin fintech Raisin aims to launch its savings platform in the US

Fintech startup Raisin was founded in 2013. The company is offering an open banking platform for online savings and investments for clients across Europe and has plans for the USA. Raisin is currently communicating with five American banks and is hoping to establish ten partnerships in 2020. Raisin admits that it will have to adapt its offering to the American market.



This picture show a man using a credit card.

Like Revolut, the German fintech Raisin, which specializes in savings products, plans to set up in the United States in 2020. Tamaz Georgadze, managing Director of Raisin said that the company is in discussions with five American banks that wish to join the platform. The startup hopes to have ten partner banks by 2020.

For news about the most interesting fin-tech companies around the world, take a look at the Born2Invest app, which offers professionally curated business headlines. Prepared by an in-house team of journalists, Born2Invest covers a wide spectrum of topics, such as investing, economies and global markets, trending business news, as well as industry updates on tech, real estate, media, and personal finance.

Adaptation to the American market is a must

Being a partner of 90 European banks, Raisin admits that it will have to adapt its offers for the American market, without giving details of their content. Tamaz Georgadze calmly approaches his arrival in the United States, where 6,000 banks are competing “via the digital channel”. According to him, “the big banks do not offer attractive rates on savings products. Our advantage is that we focus on deposits.”

Raisin’s preparations for USA

Founded in 2013, fintech is claiming 215,000 customers for a total of $19 billion (17.5 billion euros) in deposits. The company did not give details about  the number of targeted customers in the United States, but is actively preparing for an entry on the American market.

Located on the East Coast, Raisin’s office will be staffed by ten people at its launch, including Marcel Bock, a former McKinskey employee, who has just been appointed head of project management officer (PMO) for the development of its American activities, and Paul Knodel, a former Citigroup employee, and Merrill Lynch, head of the office.

New opportunities with Europe

At the Fintech Inn, which brings together more than 3,000 participants, Tamaz Georgadze, did not forget to cultivate its European network. The head of the fintech company has met with some representatives of Lithuanian partner banks and is hoping to create new opportunities

At the beginning of 2020, Raisin will enter into a partnership “with a major Italian bank,” said Georgadze. The German fintech company, which acquired the MHB bank last March, is also considering further acquisitions. “We naturally pay particular attention to potential acquisitions that will enable us to achieve our strategic objectives more quickly,” concluded Tamaz Georgadze.


(Featured image by Pixabay via Pexels)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in L’AGEFI, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Philip Gregg is a tech biz writer, with a keen understanding of blockchain technology, Internet of Things, and cloud services. He also serves as chief consultant for an IT business in Washington and a cryptowallet startup in Tokyo. Philip holds an MBA in finance and has previously worked at a Silicon Valley company before striking out on his own. He is a dad to three German Shepherds and owns a sweet vintage Mustang he fondly calls Sadie.