Raisin nets $28m from Goldman Sachs, says US launch now in 2020

By Oliver Smith on Tuesday 16 July 2019

Savings and Investment

Follow-on funding for its full-scale American arrival next year.

Raisin nets $28m from Goldman Sachs, says US launch now in 2020
Image source: Tamaz Georgadze/Raisin.

German fintech Raisin has now raised a whopping $142m in 2019 alone, after a $28m investment from Goldman Sachs in the savings account marketplace was revealed today.

The news comes after Raisin secured $114m in February from PayPal, Index Ventures and Thrive Capital, and after announcing US expansion was on its roadmap.

As well as the funding news today, Raisin also clarified that its stateside launch, headed by Paul Knodel, previously of Wealthfront, would come in 2020.

“This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as growth strategy, are on the right track,” said Raisin CEO and co-founder Dr Tamaz Georgadze.

As well as US expansion, Raisin said the funding would help it develop its technology, hire more staff, and broaden its product portfolio.

Raisin operates a marketplace of savings accounts across some 31 different banks to help savers move their cash into higher interest accounts.

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