Both companies are headquartered in Germany. The acquisition by Raisin comes following a recent funding round of EUR 25 million from Goldman Sachs. The terms of the deal were not revealed but Raisin said it has acquired 100% of fairr’s share capital in exchange for Raisin shares as well as cash.
fairr’s products will continue to be available on their website, while the brand will be incorporated under Raisin’s umbrella as “fairr by raisin.”
Raisin states that this strategic acquisition will provide access to the EUR 12 trillion European pension and retirement savings market. Raisin will become the only platform worldwide to offer its customers access to savings, investments and pension products – all a single online marketplace.
fairr is described as tackling the highly regulated German pension market offering “Riester” and “Rürup” products as well as company pension plans. In addition to Riester, Rürup, and company pension product solutions, the fintech says it is the first to offer a “pension cockpit”, enabling customers to have a holistic overview of their retirement savings.
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