Raisin, the fintech startup that offers a pan-European marketplace for savings and investment products, has picked up additional funding. Goldman Sachs has invested $28 million (€25 million), following the company’s $114 million in Series D in February.
The new capital will be used by Raisin to build out its U.S. presence ahead of a 2020 launch across the pond. The startup announced its U.S. plans in May, saying that it wanted to enable U.S. savers to more easily shop around for a better interest rate and remove the friction associated with switching savings and deposit accounts. The deposits market in the U.S. is said to be $12.7 trillion. Raisin also plans to enter two new European markets by the end of this year. The Raisin marketplace currently has six country-specific savings platforms: Germany, U.K., France, The Netherlands, Spain and Austria, in addition to a generic site for 28 European countries.