Raisin to acquire German retirement savings specialist fairr

Tamas Georgadze, CEO & Co-Founder, Raisin

European savings marketplace Raisin is all set to acquire 100% of a German retirement savings fintech fairr. The acquisition is expected to provide Raisin’s customers with access to fairr’s specialized pension products along with fixed-term and overnight accounts in the German markets.

“The fairr team has written a remarkable success story, translating and simplifying products like Riester and Rürup for the digital age,” explained Raisin CEO and co-founder Dr. Tamaz Georgadze. “Through the takeover, we will be able to expand our product offering specifically around the important aspects of retirement saving. Together we want to grow and bring new momentum to the sector. Next to bank deposits, retirement savings is the most important asset class for individuals, with a volume of 2 trillion Euro in Germany alone.”

According to the supplier, the acquisition will enable Raisin to access the € 12 trillion European pension and retirement savings market. It will allow the savings marketplace to provide its customers with access to savings, investments and pension products in one place and one registration. Raisin’s new investments and pension products division will see the addition of fairr’s founders in leading positions.

“For consumers, retirement savings are still a very opaque, dusty, cost-intensive business. With Raisin’s access to the market, we will be able to expand our reach significantly and continue to revamp the retirement savings market. We’re proud of what our team has achieved over the last 6 years and are very excited about our future together with Raisin,” stated fairr co-founder Jens Jennissen on the decision to join Raisin.

Established in 2013, fairr is a fintech providing pension products. Its application aligns customers’ personal retirement goals in real-time with their combined claim across state, corporate and private retirement savings.

Recently, Raisin has taken over Frankfurt’s MHB Bank in a bid to expand its areas of operation as well as its value chain.

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