Index, Ribbit and Thrive in $114m series-D funding round for Raisin

The fresh capital will be used for strategic acquisitions and further internationalisation. Raisin plans to add at least two additional markets to its platform this year. The site expanded into the Netherlands and the UK last year.

Index Ventures is currently deploying capital from Index Ventures Growth IV, which held a final close on its hard-cap of $1bn in July 2018. The fund invests in later-stage growth rounds and invests in Europe and the US.

Previous funding
In June 2013, German VC Avala Capital structured a round of seed capital funding for SavingGlobal as Raisin was known.

Index invested €7.5m in the company in 2014 for a minority stake. VC Ribbit Capital and Index joined in a €20m series-B alongside entrepreneurs Yuri Milner and Tom Stafford in 2015. Unquote reported that Index and Ribbit secured a combined shareholding below the 50% threshold.

In 2017, Thrive Capital led a €30m series-C round that Index and Ribbit also participated in. Raisin received an investment of an undisclosed sum from PayPal in a venture round the same year.

Company
Founded in 2012 and based in Berlin, Raisin is a pan-European online marketplace in retail banking. The company offers savings and investment products from banks across the continent, and deposits to banks.

Raisin has seven platforms, partnerships with 62 banks including Belgium's biggest bank KBC, ICICI Bank UK and the German digital banking-as-a-service platform solarisBank, and more than 160,000 customers from 31 different European countries.

People
Index Ventures – Neil Rimer (partner).
Ribbit Capital – Micky Malka (managing partner).
Thrive Capital – Jared Weinstein (partner).
Raisin – Tamaz Georgadze (co-founder, CEO).

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