German Savings Platform Raisin Announces Record Growth and Profitability
German Savings Platform Raisin Announces Record Growth and Profitability
We are happy to share the news that our portfolio company, Raisin, continued to show strong growth in 2023 and achieved profitability for the first time, almost doubling revenues to €158 million. For 2023, Raisin has reported an EBITDA of €20 million and a net profit of €1 million, marking a major milestone in the company's history, achieving record growth and profitability for the first time. Assets on the Raisin platform grew by 74 percent to €57 billion.
Close to €7 billion of net new flows were invested via the platform by consumers that used Raisin before 2023, marking a significant share of total growth from existing consumers, especially in more established markets. Over half a million active consumers have accumulated over €2 billion in interest on their savings via the B2C channels of the platform – delivering significantly higher yields compared to average market interest rates. Consumer loyalty has been high since its inception. The average consumer on Raisin triples the amount of their initial investment over time, pushing the net revenue retention continuously above 100 percent across cohorts. Platform users build diversified savings portfolios consisting of nearly six products over time.
Deposits represent a crucial funding component for banks and the financial system. Today, they make up 60 percent of bank funding, 40 percent of which is retail deposits from households. We are proud to have established our business in the more than €140tn savings and investments market and keep growing consistently. Today, 257 banks are collecting deposits across the globe through Raisin. Of these, 72 banks were onboarded in 2023 alone. That is the highest number of new partners in a single year since our inception. - Raisin CEO, Dr. Tamaz Georgadze
“Last year, the number of consumers on our platform grew in line with our record growth in new assets, and we are especially proud of the very high customer loyalty and satisfaction with an NPS of well above 40. The fact that consumers have increased the number of products across our partner banks and geographies over time shows that they have built trust in our platform and services. The net revenue retention of over 100 percent is another testament to the loyalty of consumers on our platform and the value add we provide as their trusted long-term partner regarding savings and investments.” - Raisin CCO, Katharina Lüth
“It is a great testament to the commitment of our more than 700 employees and their tireless efforts to see Raisin almost double its revenues and achieve profitability in the same year. We are especially proud of this as we have not only achieved profitability but continued to invest meaningfully into future growth - particularly in our international markets, which for the first time in company history contributed to more than 50 percent of our growth last year.” - Raisin CFO, Dr. Frank Freund
About Raisin
Raisin is the world's leading platform for savings and investment products. Founded in 2012, Raisin connects consumers with EU, UK, and US banks. This gives consumers better interest rates and banks a diversified form of refinancing. Our vision is to offer savings and investments without barriers and thus open up the global +140 trillion euro market. Raisin currently employs more than 700 people from over 65 countries worldwide. Today, the platform manages over €60 billions from over 500,000 active B2C consumers who have, through us, accumulated over €2 billion in interest through savings products alone.
We are happy to share the news that our portfolio company, Raisin, continued to show strong growth in 2023 and achieved profitability for the first time, almost doubling revenues to €158 million. For 2023, Raisin has reported an EBITDA of €20 million and a net profit of €1 million, marking a major milestone in the company's history, achieving record growth and profitability for the first time. Assets on the Raisin platform grew by 74 percent to €57 billion.
Close to €7 billion of net new flows were invested via the platform by consumers that used Raisin before 2023, marking a significant share of total growth from existing consumers, especially in more established markets. Over half a million active consumers have accumulated over €2 billion in interest on their savings via the B2C channels of the platform – delivering significantly higher yields compared to average market interest rates. Consumer loyalty has been high since its inception. The average consumer on Raisin triples the amount of their initial investment over time, pushing the net revenue retention continuously above 100 percent across cohorts. Platform users build diversified savings portfolios consisting of nearly six products over time.
Deposits represent a crucial funding component for banks and the financial system. Today, they make up 60 percent of bank funding, 40 percent of which is retail deposits from households. We are proud to have established our business in the more than €140tn savings and investments market and keep growing consistently. Today, 257 banks are collecting deposits across the globe through Raisin. Of these, 72 banks were onboarded in 2023 alone. That is the highest number of new partners in a single year since our inception. - Raisin CEO, Dr. Tamaz Georgadze
“Last year, the number of consumers on our platform grew in line with our record growth in new assets, and we are especially proud of the very high customer loyalty and satisfaction with an NPS of well above 40. The fact that consumers have increased the number of products across our partner banks and geographies over time shows that they have built trust in our platform and services. The net revenue retention of over 100 percent is another testament to the loyalty of consumers on our platform and the value add we provide as their trusted long-term partner regarding savings and investments.” - Raisin CCO, Katharina Lüth
“It is a great testament to the commitment of our more than 700 employees and their tireless efforts to see Raisin almost double its revenues and achieve profitability in the same year. We are especially proud of this as we have not only achieved profitability but continued to invest meaningfully into future growth - particularly in our international markets, which for the first time in company history contributed to more than 50 percent of our growth last year.” - Raisin CFO, Dr. Frank Freund
About Raisin
Raisin is the world's leading platform for savings and investment products. Founded in 2012, Raisin connects consumers with EU, UK, and US banks. This gives consumers better interest rates and banks a diversified form of refinancing. Our vision is to offer savings and investments without barriers and thus open up the global +140 trillion euro market. Raisin currently employs more than 700 people from over 65 countries worldwide. Today, the platform manages over €60 billions from over 500,000 active B2C consumers who have, through us, accumulated over €2 billion in interest through savings products alone.
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