Deals
Goldman Follows PayPal With Investment in German Startup
- U.S. lender is backing Berlin-based Raisin with $28 million
- Berlin has become a hotspot for ambitious German fintech firms
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Just a few months after leading a funding round for Berlin-based fintech company Elinvar, Goldman Sachs Group Inc. is backing another startup in the German capital.
The U.S. lender is investing 25 million euros ($28 million) in Raisin, an internet platform for bank-savings products, in exchange for a low single-digit percentage stake. The new funding brings the total volume of primary investments in the startup firm to 195 million euros. Earlier backers include PayPal Holdings Inc.