Raisin, a Berlin, Germany-based pan-European savings marketplace, is acquiring fairr, a German fintech company focused on retirement savings.
The company has acquired 100% of fairr’s share capital in exchange for Raisin shares as well as cash. The amount of the deal was not disclosed.
With the acquisition, in addition to fixed-term and overnight accounts, as well as ETF portfolios in the German market, Raisin’s nearly 200,000 customers will now have access to specialized pension products.
Through this strategic agreement, Raisin will get access to the € 12 trillion European pension and retirement savings market and offer its customers access to savings, investments and pension products — all on one online marketplace.
Led by Jens Jennissen, Alexander Kihm, and Ambros Gleißner, fairr has developed a digital platform for retirement savings, offering ‘Riester’ and ‘Rürup’ products as well as company pension schemes. Its range of products will continue to be available at www.fairr.de, while the brand will be incorporated under Raisin’s umbrella as “fairr by raisin”.
The three founders will take on leading roles in the newly formed investments and pension products division at Raisin, which will include Raisin’s existing investment product line WeltInvest (available in Germany).
The entire fairr team will also join them in becoming part of the larger Raisin family.
Founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin provides a marketplace that offers access at no charge to more than 500 deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios (now available in Germany).
Since launch in 2013, the company has brokered more than 15 billion EUR for almost 200,000 customers in 31 European countries and over 80 partner banks. Raisin is backed by European and American investors such as btov Ventures, Goldman Sachs, Index Ventures, Orange Digital Ventures, PayPal Ventures, Thrive Capital and Ribbit Capital.
FinSMEs
28/08/2019