Berlin-based fintech company Raisin has acquired pension specialist fairr.
Through this acquisition, Raisin will have access to fixed-term and overnight accounts, as well as cost-effective ETF portfolios in the German market. Also, Raisin's nearly 200,000 customers will have access to specialised pension products.
Raisin will get access to the €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.
Since its founding, fairr has developed into the European start-up for retirement savings. Its founders are alone in taking on the complexity of the heavily-regulated German pension market, successfully offering ‘Riester' and ‘Rürup' products as well as company pension schemes.
fairr's three founders will take on the roles in the newly formed investments and pension products division at Raisin, which will include Raisin's existing investment product line WeltInvest. The entire fairr team will also join them in becoming part of the larger Raisin family.
Raisin has acquired 100% of fairr's share capital in exchange for Raisin shares as well as cash. This way, all participants are invested in the long-term success of the joint enterprise.