VC-backed Raisin buys retirement savings startup Fairr

Raisin bought Fairr's entire share capital in exchange for Raisin shares and cash.

Through this acquisition, Raisin will gain access to the European pension and retirement savings market, and will be able to offer its customers access to savings, investments and pension products in one online marketplace. Fairr's range of products will continue to be available at www.fairr.de, while the brand will be incorporated under Raisin's umbrella as "Fairr by Raisin".

Fairr's three founders will take on leading roles in the newly formed investments and pension products division at Raisin, which will also include Raisin's existing investment product line, WeltInvest. 

This is the second add-on inked by Raisin this year, following the acquisition of service bank MHB Bank, bought from Lonestar Private Equity in March.

Raisin received a €25m capital injection from Goldman Sachs in July 2019, after a $114m series-D round raised from Index Ventures, Ribbit Capital, Thrive Capital and PayPal in February 2019.

Previous funding
Following an initial seed round received in 2015 from Pro7Sat.1 Accelerator, Fairr raised a series-A funding round led by Transamerica Ventures and IBB Investitionsbank Berlin in October 2016.

Company
Fairr is an online marketplace which provides investment products for retirement savings, including both state-funded plans such as Riester and Rürup, and corporate and private pension schemes. The products are based on an exchange-traded funds investment approach and are managed through a personal financial cockpit. Fairr was established in 2013 and is based in Berlin.

People
Raisin – Tamaz Georgadze (CEO, co-founder).
Fairr – Jens Jennissen (co-founder).

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