Germany sees fintech merger as Raisin acquires Fairr

Two German fintech companies have merged as its announced that Raisin has acquired Fairr, a fintech company specialising in retirement savings.

Raisin offers customers online savings and investment products under the brand WeltSparen in Germany. It was founded in 2012 by CEO Dr Tamaz Georgadze, CFO Dr Frank Freund and COO Michael Stephan.

The acquisition will mean that Raisin’s 200,000 customers will have access to specialised pension products as well as fixed-term and overnight accounts, and ETF portfolios.

Raisin will get access to Fairr's €12trn European pension and retirement savings market and become the only platform worldwide to offer its customers access to savings, investments and pension products — all on one online marketplace with one simple registration.

This is the second takeover for Raisin this year, following the fintech’s addition of its service bank MHB-Bank to its portfolio.

Fairr’s three founders will take on leading roles in the newly formed investments and pension products division at Raisin, which will include Raisin’s existing investment product line WeltInvest (available in Germany). The entire Fairr team will also join them in becoming part of the larger Raisin family.

“For consumers, retirement savings are still a very opaque, dusty, cost-intensive business. With Raisin’s access to the market we will be able to expand our reach significantly and continue to revamp the retirement savings market. We’re proud of what our team has achieved over the last six years and are very excited about our future together with Raisin,” Fairr co-founder Jens Jennissen said.

Furthermore, Raisin CEO and co-founder Dr Tamaz Georgadze, said the Fairr team has written a remarkable success story, “translating and simplifying products like Riester and Rürup for the digital age”.

“Through the takeover we will be able to expand our product offering specifically around the important aspects of retirement saving. Together we want to grow and bring new momentum to the sector. Next to bank deposits, retirement savings is the most important asset class for individuals, with a volume of €2trn in Germany alone.”

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