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Goldman-Backed Berlin Fintech Company Buys Crosstown Rival

  • Raisin takes over Fairr in a bid to increase its customer base
  • Company enters Europe’s $13.3 trillion pension savings market
Tamaz Georgadze
Tamaz GeorgadzePhotographer: Raisin GmbH

A Berlin-based fintech company backed by Goldman Sachs Group Inc. is acquiring one of its crosstown rivals as it tries to capitalize on the 12 trillion euros ($13.3 trillion) pension and retirement savings market in Europe.

Raisin, originally a marketplace for bank-savings products, is buying 100% of Fairr’s share capital in exchange for Raisin shares as well as cash, the companies will announce on Tuesday. Fairr, co-founded in 2013 by a former energy trader, is a fintech firm specializing in pension schemes.