Orange Digital Ventures Invests in Raisin’s €100m Series D Roundby Fintechnews Switzerland May 10, 2019
Orange Digital Ventures announces its latest investment with Raisin, an innovative Berlin-based fintech making strides 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 start-ups, 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, and with over 175,000 users in 31 countries and €12 billion brokered deposits, Raisin has a leading pan-European marketplace in retail banking, removing barriers to profitable and easy savings for consumers as well as creating access to liquidity for banks.
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.
These both aim at serving the customer with the best products and a differentiated customer experience, to improve customers’ management of their financial affairs. Orange has a strong open innovation DNA, which leads the company to connect with cutting-edge start-ups, in order to make the most of new technologies and business models.
“Orange Digital Ventures has been impressed by Raisin’s team, vision and achievements and is now pleased to participate in Raisin’s quest to become the leading global financial marketplace for savings and investment products. ODV will bring all its support to Raisin’s expansion into new markets and product development,”
said Marc Rennard, Chairman of Orange Digital Ventures.
Dr. Tamaz Georgadze, co-founder and CEO of Raisin, added:
“We are delighted to welcome Orange Digital Ventures as one of our investors. It’s particularly exciting for us because Orange has a proven track record, as both a successful international mobile operator and an accomplished financial technology provider. In addition to the investment, we do see potential synergies and concrete partnership opportunities with Orange Bank.”