In another coup for the European fintech industry, Berlin-based Raisin has raised a whopping $114 million. Existing investors Index Ventures, PayPal, Ribbit Capital and Thrive Capital participated in the Series D fundraise. Raisin previously secured €30 million in Series C financing in 2017, with this latest round bringing its total amount of capital raised to about $200 million.
The financial product marketplace will use the funds for acquisitions, as well as furthering its international expansion by adding two more markets to its platform in 2019, following launches in the Netherlands and the UK last year. The capital will also go toward recruiting for its international team and extending its investment product line.
Raisin is one of a slew of businesses taking advantage of new European regulations such as open banking, allowing financial data to be shared more easily between firms. The startup currently has 62 partnerships with banks including Belgium's KBC and N26, and says it has brokered more than $11 billion in deposits.
The deal also highlights growing investor interest in the European fintech space, coming just days after Goldman Sachs and HSBC invested in British startup Bud and less than a month since N26's mammoth $300 million round.
Deals like this underscore European fintech's recent blistering pace when it comes to fundraising. Just over two months into the year, such startups on the continent have raised nearly €470 million across 26 deals (including Raisin's latest round), per the PitchBook Platform, on track to smash 2018's total of €2.9 billion for the year.