German Fintech Deposit Solutions Merges With Rival Raisin to Form Raisin DSby Fintechnews Switzerland June 28, 2021
Deposit Solutions and Raisin have announced the completion of their merger to from Raisin DS, servicing banks and consumers on both sides of the Atlantic in the savings and investment market. The merger only needs to be registered in the commercial register.
One of Raisin DS’ key priorities is maintaining a high degree of continuity. Both companies’ current management will take over leadership roles at Raisin DS.
Both CEOs, Dr. Tamaz Georgadze and Dr. Tim Sievers, will initially lead the new company as co-CEOs. Dr. Tim Sievers will then move to the company’s Advisory Board at the end of the year.
Deposit Solutions is a B2B open banking platform in the savings deposit space. The company operates deposit marketplaces for over 150 partners, including large institutions such as Deutsche Bank, and connects them with deposit-taking banks from all across Europe. Raisin is a pan-European B2C platform for savings and investments.
Raisin’s marketplaces offer consumers simple access to competitive deposit products from all across Europe. In Germany, the fintech company also offers globally diversified, cost-effective ETF portfolios and ETF-based pension products.
As Raisin DS, both companies will now be able to unite B2B offering and Europe’s B2C savings marketplaces under one roof.
Going forward, Raisin DS plans to invest in its platforms, extend the product range and expand into further markets.
“Deposit Solutions and Raisin have brought important innovations to a market that has been underserved for decades. Together we can achieve even more.
By uniting Deposit Solutions and Raisin, we’re transforming two German innovation leaders into the European champion with global ambitions.”
said Dr. Tim Sievers, CEO and founder of Deposit Solutions.
“Raisin DS is breaking down barriers and reinforcing our long-time vision for a single transparent market for savings and investment products.
We want to contribute to a financial system that better serves day-to-day financial needs of people and enables banks to provide a stronger backbone to the real economy.”
added Dr. Tamaz Georgadze, CEO and co-founder of Raisin.
Featured image: Dr. Tamaz Georgadze, CEO and co-founder of Raisin & Dr. Tim Sievers, CEO and founder of Deposit Solutions