LONDON — German fintech Raisin has doubled the total amount invested over its platform since the start of the year, reaching €4 billion (£3.6 billion).
Raisin announced the milestone on Thursday. Its last investment update came in January when the startup said €2 billion (£1.8 billion) had been invested over its platform.
Raisin claims to be the fastest growing fintech in Europe and one of the biggest investment marketplaces in Europe, with over 90,000 customers.
Tamaz Georgadze, Raisin’s CEO and cofounder, said in a statement: “It took us almost two years to reach the first billion in invested savings products and until the second milestone of €2 billion another ten months. For the third and fourth milestone it only took us four months in each case.”
Berlin-based Raisin, founded in 2013, lets customers across Europe invest in savings accounts around the EU that offer the best interest rates. It offers euro interest rates as high as 1.92% for one year, on a minimum of €10,000.
Raisin, formerly known as WeltSparen, does not hold customer money and instead opens an individual account for each saver with the corresponding account. Raisin currently has a German, English, Spanish, and French-language version of its service.
Georgadze says: “With currently 34 partner banks from 17 European countries, customers find the majority of the highest interest rates available on our platforms.”
Georgadze says Raisin hopes to hit €5 billion (£4.5 billion) of brokered investments by the end of the year.
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