Raisin, a Berlin-based fintech providing savings and investment products, announced that it has raised €60 million in a Series E funding round from a number of new and existing investors including M&G’s Catalyst and Goldman Sachs.

With the new investment, Raisin is looking to revamp its investment product as well as accelerate growth in expanding markets such as the United States where the fintech already has a presence since 2020.

Raisin reported that it had recently exceeded 1 million customers and currently manages a total of €38 billion Assets under Management (AuM) for customers globally.

The fintech claims to have already been profitable for half a year and had managed to grow its AUM by more than 30% in the past six months.

Dr Frank Freund, Chief Financial Officer and Co-founder of Raisin said,

“The investment marks another important step in our objective to provide savers throughout the European Union, the United Kingdom and the United States with straightforward and fair products. With the new commitment, we will be better positioned to bring value to even more consumers and partners.”