Orange Digital Ventures Invests in Raisin
Orange Digital Ventures announced on May 9 its latest investment with Raisin, a Berlin-based fintech which operates in the European savings marketplace.
Orange has joined the €100m Series D fundraising round of Raisin alongside existing investors Index Ventures, PayPal, Ribbit Capital, and Thrive Capital.
The new round allows Raisin, one of the fastest growing European startups, to expand its core service in at least two additional European markets this year and extend its line of investment products.
Through its partnerships with over 75 banks from 24 countries, with over 175,000 users in 31 countries, and €12 billion brokered deposits, Raisin has created the leading pan-European marketplace in retail banking, removing barriers to profitable and easy savings for consumers as well as creating simple and fast access to liquidity for banks.
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Raisin offers a ‘deposit-as-a-service’ platform to its partner banks, providing them with access to markets and to liquidity across Europe, and competitive savings and investment opportunities to its customers, who can select from Raisin’s 250 plus savings products.
Partner banks can also offer their own customers a one-stop-shop savings and investments portfolio directly integrated in their web and mobile interface, enabled by Raisin technology and offers. The customer experience for savers is convenient and user-friendly — and strengthens the relationship to their primary bank.
The opportunity that Raisin addresses lies in the retail savings market, often considered the beating heart of economies, where deposits are matched with credit through retail banks. In Europe, according to the European Banking Federation the total deposits of businesses and households in 2017, across more than 6,250 institutions, was approximately €16.3 trillion.
Raisin’s solution aligns with Orange’s strategic objectives, particularly in mobile financial services, where the group has two key strong initiatives with Orange Bank in Europe and Orange Money in Africa.