Berlin-based savings marketplace Raisin plans expansion into the $12.7 trillion US deposits market
Summary
Berlin-based Raisin , the European savings and investment marketplace, has announced its plans to enter the US, with a deposits market valued at $12.7 trillion. Raisin has appointed Paul Knodel, a financial industry veteran, as its US CEO to lead the expansion. Raisin was founded in 2013 to provide savers in Europe access to higher-interest savings products from partner banks across the continent with its ‘deposits-as-a-service’ platform. Since then, the startup has brokered over €13 billion in savings for more than 175,000 customers in 31 European countries, with over 75 partner banks. Paul Knodel has more than 20 years of experience in executive and senior management positions at Citigroup and Merrill Lynch as well as TD Ameritrade, E-Trade, and the robo-advisor Wealthfront.