With a number of startups coming up in the business market every now and then, it has become difficult to raise funds with competition blooming. As there are more options to choose from, even investors have become wary of the company they put their money into. It is a practical concept to invest money where there is an assurance of a definite return or profit. For this, the company must have a strong profile and substantial business strategies which assure the investors of receiving the best of returns. Recently, a Germany-based startup succeeded at winning the trust as well as funds of the public within a short span of time. The Raisin fintech startup attracted investors from around Europe and gained funds worth $3.2 billion approximately.
You might be wondering what exactly this Raisin fintech startup does. Established in Germany during 2013, Raisin is an online marketplace which provides European savings products to its customers in an approachable manner. It was initially launched in the German language but is now available in English as well. The company has established localized platforms in prominent countries such as France, Germany, Spain, and Austria. With the help of Raisin, customers can open deposits across Europe at attractive interest rates. The online marketplace provides these services free of cost. The deposits which take place through the company come with a 100 percent guarantee up to $107,284 per customer. This is in accordance with the Deposit Guarantee Scheme on the basis of the EU directives.
Progress of the Raisin fintech startup
Whenever an individual showed interest in investing in firms based in other countries, it would come with numerous tedious tasks. Firstly, the customer had to go through the complex and varied account opening procedures that too in a foreign language. This can sometimes be tricky as if one fails to understand a bank document; it might result in financial fiascos. Plus for document verification and other such formalities, the investor may need to visit the headquarters of the company he is investing in which can be situated in another country. This causes great inconvenience to the investor which leads to his disinterest in the company. Raisin focuses on curbing this problem and has succeeded in it to quite an extent.
Around three and a half years after its launch, customers from all over Europe have already invested more than $3.2 billion through the Raisin fintech startup. It has attracted over 75,000 customers for investment by providing an excellent customer service and a growing product range. Raisin claims that out of the $3.2 billion, it raised $1.07 billion in the last four months itself. This can be a milestone in the investment arena as very rarely a startup has raised such an impressive amount of money within the span of a few months. This online marketplace is undoubtedly the most successful one in Europe for savings products. Here, the customers can choose from 146 savings products listed from 15 European countries.