German savings and investment products marketplace Raisin has almost doubled revenues for 2023 and moved into net profitability for the first time.
Founded in 2012, revenues hit €158 million and achieved an Ebtda of €20 million and a net profit of €1 million. Assets on the Raisin platform grew by 74 percent to €57 billion as consumer moved to take advantage of high interest rates.
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.
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."