Berlin start-up Raisin is suddenly no longer a unicorn

The value of the fintech was adjusted downwards by an investor. Instead of 23.6 million euros, a two percent stake is now "only" worth 17.9 million euros.

Raisin investor Kinnevik values its approximately two percent stake in the fintech start-up at "only" 17.9 million euros. This is reported by Financial Scene. Extrapolated to 100 percent, this means roughly 895 million euros, the billion mark has been undercut and Raisin has lost its unicorn status.

The Berlin-based interest and call money platform Raisin was previously valued at more than one billion euros by industry insiders. The start-up itself had never publicly commented on the valuation.

According to Finanz-Szene, the reasons for the downgrade are the slow growth in 2021 and the fact that a financing round originally planned for last year is still pending. The medium also cites the reduction in the number of employees as a further indication. The fintech's headquarters in Berlin is also said to be currently looking for subtenants for parts of its office space.

Nevertheless, it is possible that the company will soon regain its unicorn status, as key interest rates are currently rising again. This would mean higher interest rates on call money accounts, which in turn would be a selling point for customers for the corresponding products.

Rasin's main brand, Weltsparen, enables customers to invest money in call money accounts at banks in Germany and other European countries.