Berlin-based savings deposit marketplace Raisin has received capital from payments company PayPal, which will be used to push the fintech’s growth in the market.
The amount of funding, described as a “strategic investment” by PayPal, remains undisclosed. However, the backing by PayPal joins a €30 million ($35 million) round the fintech raised earlier this year in January.
Raisin, a self-described “marketplace” for savings products around Europe, allows users to compare different deposit rates across Europe so that user can maintain a competitive rate of interest. For this, the fintech partners with banks, who in turn receive greater exposure to customers in different European markets.
Right now, the fintech partners with 40 banks, all offering savings products via its marketplace.
Read more at TechCrunch and Finextra.
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