PayPal-backed fintech Raisin acquires fairr, a German retirement solutions provider

PayPal-backed fintech Raisin acquires fairr, a German retirement solutions provider

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As a result of digitisation and new fiscalisation laws, several fintech startups are offering investment platforms aimed at those want to invest their money and earn decent interest. A few fintech companies offer the best interest rates for their users. One such fintech is Raisin based in Berlin.

In a recent development, two German fintechs – Raisin and fairr have merged. Well, Raisin, the pan-European savings marketplace has acquired fairr, a leading fintech for retirement savings. As a result of this acquisition, Raisin’s customers get ultimate access to specialised pension products. Raisin has acquired 100% of fairr’s share capital in exchange for Raisin shares and cash.

How will Raisin benefit?

Through this acquisition, Raisin will tap into the European pension and retirement savings market worth €12 trillion. It will also become the only global platform offering its customers access to investments, savings, and pension products in a single online marketplace with a simple registration. Notably, this is the second acquisition of Raisin in 2019 following that of MHB-Bank, a service bank.

fairr offers pension schemes

fairr offers Riester and Rürup and company pension schemes. These are cost-efficient, fully transparent and flexible pension product solutions. It offers a pension cockpit letting users have a holistic overview of their retirement savings.

100% digital retirement savings

While Raisin focuses on offering savings that are more transparent and customer-friendly than its rivals, fairr is dedicated to offer the same with retirement savings. It offers low-cost and fully digital retirement savings options based on an ETF investment approach.

fairr has received several awards and its offerings are recommended by both Germany’s premier financial advice publication and top consumer finance guide. Even after the acquisition, the fairr products will be available via www.fairr.de, but will be incorporated under the brand name “fairr by raisin”.

fairr team joins Raisin

As a result of the acquisition, fairr’s founders will take leading roles in the newly formed investments and pension products division at Raisin. This includes Raisin’s existing investment product line WeltInvest. The entire fairr team will become a part of the larger Raisin family.

Stay tuned to Silicon Canals for more European technology news.

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