Raisin announces record growth and profitability

  • Revenue almost doubled to €158 million
  • EBITDA of more than €20 million, net profitability achieved
  • Strongest increase in assets on the platform since inception

Raisin, founded in 2012, operates a global platform marketplace for savings and investments. It has published its annual accounts, announcing record growth in assets on the platform, revenue, and profitability in 2023.

In 2023, Raisin continued to show strong growth and achieved profitability for the first time, almost doubling revenues to €158 million. For 2023, Raisin reports 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.

Raisin CEO Dr. Tamaz Georgadze: “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 CCO Katharina Lüth: “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 CFO Dr. Frank Freund: “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.”

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.

About Lisa Baker, Editor 2424 Articles
Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.