Raisin Bank acquires Bankhaus August Lenz payment division

The bank will now expand its product range to include payment services and enter the cash solutions sector to diversify its revenue sources.

The acquisition marks the next step for the bank on its way to becoming a full-service provider, having shifted from MHB Bank to a more digitally focused fintech in 2019.

The expansion of the payment solutions will make Raisin Bank more independent and will further drive our growth in the Banking-as-a-Service (BaaS) market throughout Europe.

The new business will allow the bank to offer its cooperation partners and new customers electronic payment transactions as well as cash solutions.

With the acquisition comes more than 4,500 ATMs in Germany and cooperation partners including major bank-independent ATM operators as well as various retailers, restaurants, and petrol station chains.