Successful start-up promotes new investor funds
Since its founding five years ago, the Fintech Start-Up Weltsparen has provided investments of EUR 10 billion to partner banks. Investors currently receive up to 1.25 percent interest on a one-year fixed-term deposit with the interest rate portal; in times of low interest rates, the concept is well received by customers. Now the company Raisin, which operates in Germany under the name, Weltsparen ‘, has secured 100 million euros in a financing round.
Participation of existing investors
According to the start-up, investors in the fourth round now include the existing investors Index Ventures, the payment service provider PayPal, Ribbit Capital and Thrive Capital. With the freshly raised 100 million euros, the sum of the investor capital rises to 170 million euros. This is one of the largest financing rounds in the German fintech scene.
Company wants to promote internationalization
The three World Savings Founders Tamaz Georgadze (CEO), Frank Freund (CFO) and Michael Stephan (COO) have big plans for expansion with the fixed-term portal: the new funds are used to finance strategic acquisitions and drive forward the further internationalization of the portfolio. Raisin launched in the Netherlands and the United Kingdom in 2018, with two more planned in 2019.
Also published on Medium.