Mon, Dec 23 2024

Raisin enters net profit.

May 13, 2024
1 Min Read

Raisin, a German marketplace for savings and investment goods, has nearly doubled its revenue in 2023 and achieved net profitability for the first time.

Established in 2012, the company generated €158 million in revenue, €20 million in EBITDA, and €1 million in net profit. The Raisin platform saw a 74% increase in assets to €57 billion as customers shifted to take advantage of favorable interest rates.

Customers who used Raisin prior to 2023 invested about €7 billion in net fresh flows through the platform, accounting for a sizeable portion of the overall growth from current customers, particularly in more developed economies. Through the platform's B2C channels, more than 500,000 active users have accrued interest on savings totaling more than €2 billion.

 

Since launch, there has been a strong level of customer loyalty. Over time, the average Raisin user triples the amount they initially invested, consistently raising the net revenue retention rate above 100% for all cohorts. Over time, customers of the platform assemble diverse savings portfolios made up of over six goods.

 

Dr. Tamaz Georgadze, CEO of Raisin: "Deposits constitute an essential source of funding for banks and the financial system." Currently, they account for 60% of bank funding, of which 40% comes from household retail deposits. We take great pride in having launched our company in the over €140 trillion savings and investments sector and continuing to grow steadily. Today, Raisin is used by 257 banks worldwide to collect deposits. Just in 2023, 72 banks were added to this list. Since our founding, that is the most new partners we have added in a single year."

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