Tamas Giorgadse, CEO and Co-Founder, Raisin

European savings marketplace Raisin has secured a new investment worth €25 million from Goldman Sachs, thus bringing the total primary investment funds to €195 million. This follows the recent Series D round wherein the company raised €100 million.

Rana Yared, Managing Director, Goldman Sachs Principal Strategic Investments, said: “Raisin has developed a unique savings marketplace with a solid business model, impressive growth and a loyal customer base. We are excited to support the company’s outstanding management team in executing their vision.”

According to the supplier, the new funding is expected to enable Raisin in its mission to expand into the US savings market by 2020 as well as enter two new European markets within 2019. The company is expected to advance its technology, hiring procedures and expand its product portfolio.

“This investment from such a renowned brand is a very encouraging confirmation for us that our core business, as well as growth strategy, are on the right track. We’re really proud to have Goldman’s backing, especially given the expertise in investment products, along with an extraordinary 150-year history and record of success,” added Raisin CEO and co-founder Dr. Tamaz Georgadze.

Recently, Raisin announced a partnership with money management app Yolt which will provide Yolt’s European consumers with access to Raisin’s range of savings products.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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