Raisin Tops 25B Euros in Savings-Based Assets Under Management

German FinTech Raisin now has more than 25 billion euros of assets under management in savings products, the company announced in a Friday (June 10) press release, saying the milestone sets it up for more growth amid the interest rate turnaround announced by the European Central Bank (ECB).

Raisin offers customers in Europe and the U.S. access to interest-bearing overnight and fixed-term deposits at more than 160 international partner banks, per the announcement. The savings volume of more than 25 billion euros under management was invested through the WeltSparen and Zinspilot platforms and Raisin’s international portals under the Raisin, Savedo and SaveBetter brands.

The FinTech also offers ETF-based investment and retirement products in Germany, according to the press release. Raisin’s investment division additionally manages almost $1.6 billion and is planning to add new asset classes, including a recently released private equity product.

“25 billion euros in assets under management in deposits is an important milestone for us,” Raisin Chief Client Officer and Managing Director Katharina Lueth said in the press release. “The fact that we have reached it makes us happy and confirms our business model, especially during the current interest rate turnaround.

“Overnight and time deposits were often ignored by financial experts and the media during the low-interest phase, they are currently experiencing a renaissance … For the first time in years, we are again seeing interest rates of 1% and more for 1-year time deposits in our biggest markets. And the market is showing: This trend toward rising interest rates will not only consolidate but intensify,” she said.

Related: Raisin, Deposit Solutions To Create Pan-European FinTech In Merger

Last year, Raisin and fellow German FinTech Deposit Solutions merged into a new pan-European group with about 400 banking partners and more than 500 employees headquartered in Berlin called Raisin DS.

Both companies listed accounts with Greensill Bank, the U.K. supply chain finance group which collapsed recently and is under criminal investigation. The Greensill collapse raised concerns over business models that link depositors to banks.