Berlin start-up Raisin is suddenly no longer a unicorn

The value of the Fintech was corrected downward by an investor. Instead of 23.6 million euros, a two percent share is said to be worth "only" 17.9 million euros.

Raisin investor Kinnevik values its roughly two percent stake in the fintech startup at "only" €17.9 million. This is reported Financial scene. Extrapolated to 100 percent, this means roughly 895 million euros, the billion mark has been undercut and Raisin thus loses its unicorn status.

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

According to Finanz-Szene, the reasons for the demotion are the slow growth in 2021, in addition, a financing round originally planned for last year is said to be still outstanding today. As a further indication, the medium cites the decrease in the number of employees. The fintech's headquarters in Berlin is also said to be currently looking for subtenants for parts of its office space.

Nevertheless, it would be possible for the company to regain its unicorn status soon, as key interest rates are currently rising again. This would mean higher interest rates for call money accounts, which in turn would be an argument for customers to buy the corresponding products.

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