VC-backed Raisin buys MHB Bank from Lone Star

The acquisition comes shortly after Raisin announced its $114m series-D funding round with participation from Index Ventures, Ribbit Capital, Thrive Capital and PayPal. At the time, the firm announced it would use the fresh capital for strategic acquisitions.

Raisin will acquire a banking licence through the acquisition of MHB, allowing it to launch and market its services across the European Economic Area.

Lone Star is a global private equity fund focusing on the financial services sector and has owned MHB since 2005.

Company
MHB was founded in 1997 and is headquartered in Frankfurt. The bank offers a range of financial services and partners with several financial technology firms that need a banking licence to operate, including Raisin, CreditShelf and Exporo.

People
Raisin – Tamaz Georgadze (CEO).

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• Topics
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