Deposit Solutions and Raisin merge

The two fintechs previously offered a similar product, but now want to think bigger. Now the Berlin and Hamburg-based companies have to merge their teams, with both founders remaining loyal to the new company.

After a year of preparation, the two fintechs Deposit Solutions and Raisin announce their merger under the name Raisin DS. "The merger of Deposit Solutions and Raisin creates a European champion with global ambitions from two German innovation leaders," says Tim Sievers, founder of Deposit Solutions. He will manage the new company together with Raisin founder Tamaz Georgadze until the end of the year, after which Sievers will move to the Supervisory Board.

Deposit Solutions operates the interest portal "Zinspilot" and offers interest marketplaces for 150 customers such as Hamburger Sparkasse and Deutsche Bank. Raisin also focuses on interest rates with its "Weltsparen" platform; the fintech also offers investment opportunities in ETFs. The individual brands will be retained, both companies can now also be found on the US market and want to push ahead with their expansion plans as Raisin DS: "Our vision is a global savings and investment market without barriers," says Georgadze.

"By joining forces, we will increase our market penetration in Europe, build a strong presence in the US and pursue our goal of establishing open banking as the global industry standard in the deposit business," says Sievers about the future. Both fintechs have raised a total of 400 million euros to date; Deposit Solutions is backed by Peter Thiel, for example, while Hedosophia and Ribbit Capital have invested in Raisin.