Raisin acquires fairr, forays into pension market
Raisin acquisition of fairr : Open banking fintech Raisin has acquired fairr, a German-based retirement savings specialist, in a transaction involving shares as well as cash, as per the latest fintech industry news.
The acquisition comes close on the heels of Raisin’s addition of service bank MHB-Bank to its portfolio this year.
Post-acquisition, Raisin will get access to the €12 trillion European pension and retirement savings market.
In addition, Raisin’s approximately 200,000 customers will have access to specialized pension products, fixed-term and overnight accounts, and ETF portfolios in the German market.
fairr offers Rürup, state-funded Riester and company pension product solutions, in addition to pension cockpit for a holistic overview of customers retirement savings.
Raisin acquisition of fairr : Raisin co-founder and CEO Dr. Tamaz Georgadze. Photo courtesy of Raisin GmbH, Berlin.
Commenting on Raisin acquisition of fairr, Dr Tamaz Georgadze – CEO and co-founder of Raisin said: “Through the takeover we will be able to expand our product offering specifically around the important aspects of retirement saving.
“Together we want to grow and bring new momentum to the sector.
“Next to bank deposits, retirement savings is the most important asset class for individuals, with a volume of 2 trillion Euro in Germany alone.”
Though the brand will be incorporated under Raisin’s umbrella as “fairr by raisin”, fairr’s range of products will continue to be available at www.fairr.de
Jens Jennissen – co-founder of fairr, commenting on Raisin acquisition of fairr, said: “With Raisin’s access to the market we will be able to expand our reach significantly and continue to revamp the retirement savings market.”