Berlin, November 28, 20203 - Raisin has announced the launch of its deposits platform in Poland today. The platform is designed to bridge the gap between Polish savers and a network of European banks, utilising Raisin's proprietary cross-border savings technology and online marketplace.
Raisin simplifies access to diverse deposit products across Europe, allowing customers to save money with safety, choice and convenience. The platform enables customers to deposit funds into listed products without the need to identify or access a separate platform for each bank again, streamlining the savings process.
Polish Deposit Market
By the end of the first quarter of 2023, the total value of household savings in Poland exceeded 2 trillion zloty* (equivalent to €456 billion) for the first time. Even though there has been an increase in accumulated savings and assets, the persistently high inflation over the past two years has impacted the actual value of investments.
"Raisin's platform in Poland aims to enhance the competition within the savings sector of the economy by broadening choice and eliminating barriers to access good deals from across the European Economic Area, all in one place. We aim to make deposits more accessible to regular people, leveraging the full value of the European deposit market and ultimately increasing their savings. We are excited to offer Polish consumers the opportunity to earn higher interest on their savings.", comments Dr Tamaz Georgadze, CEO and co-founder of Raisin.
The launch of this new savings platform is part of an ongoing partnership between Raisin Bank of Frankfurt and the pan-European fintech Raisin.
Andreas Wolf, Member of the Board of Raisin Bank, explains: "Raisin Bank continues to invest in building scalable solutions for fintech and digital banking partners. By building the Polish platform integration, Raisin Bank AG created a blueprint for future non-EUR expansion in Europe by adding critical FX payment capabilities. As a result, we are excited to lead the launch of the new platform in such an important market. Through the Polish marketplace, Raisin Bank enables even more customers to use the advantages of a pan-European banking market."
Available at launch and the first bank to join the Polish platform, HoistSpar offers secure deposit accounts in Sweden, Germany, Poland and the UK. HoistSpar is part of Hoist Finance AB (publ), a regulated credit market company headquartered in Stockholm, Sweden. New customers joining the platform can order and fund fixed-term deposits ranging from one, three and six months up to 5.80% and a one-year fixed-term deposit at 5.50%.
In September, Raisin announced that it had reached €50 billion in assets under administration. In addition to Germany, all major markets, including the UK, the Netherlands, and the USA, have witnessed significant growth. Raisin has significantly accelerated its growth this year in the US, resulting in over €1bn net inflows each quarter in 2023.
Raisin is the trailblazer in the savings and investment space. Founded in 2012, the fintech company opened the $95+ trillion deposits and investments market of the European Union, the United Kingdom and the United States to consumers. Today, Raisin serves over one million customers in these three markets, offering savings and many investment and pension products. This makes the Berlin-based fintech one of the leading global savings and investments marketplaces. Savers get a wider choice of attractive products with the ability to move their money freely. In addition, financial service providers get best-in-class marketplace solutions for their customers, and banks get better access to retail funding. Raisin operates its own B2C marketplaces in Europe and the U.S. under the brands Raisin, WeltSparen and ZINSPILOT. In Germany, the company offers ETF-based investment and retirement products, Private Equity and Crypto investments, and savings products. Raisin works with over 400 banks and financial service providers from over 30 countries. Raisin has €55 billion AuM and generated over €1 billion in interest for its customers worldwide. Raisin is backed by renowned international investors such as b2venture, Deutsche Bank, Goldman Sachs, Greycroft, Headline, Index Ventures, Latitude Ventures, Orange Ventures, PayPal Ventures, Top Tier Capital Partners, Ribbit Capital, Vitruvian Partners and M&G. The company has offices in Berlin, Frankfurt, Hamburg, Madrid, Manchester, Munich and New York.
About Raisin Bank AG
As Europe's leading service bank, Raisin Bank offers innovative and tailor-made services for the growing fintech community, institutional investors and other financial companies. Since its foundation in 1973, the Frankfurt-based institution has focused on serving business customers. Today, Raisin Bank's service portfolio includes banking-as-a-service solutions and expert advice in deposits, customer and account management, credit fronting, factoring, payment transactions and, since 2023, custody and wealth management services. The bank's payment division also covers cash solutions for ATM operators and cash logistics in Germany and Europe. As a fronting and service bank with a full banking licence, Raisin Bank supports implementing licensable business models for fintechs such as Raisin (Weltsparen), Wayflyer, Moss, Teylor, family offices and funds. Raisin Bank AG is a fully owned subsidiary of Raisin GmbH.
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Source: Company press release.