A merger deal between two big players in the German FinTech sector has now been completed, raising the bar of competition in that sector in the country. Deposit Solutions and Raisin made a joint announcement, confirming the launch of a new unified firm, called the Raisin DS.
The firms expect that this new move will consolidate their stance together as a leader in the savings and investment and the provision of financial services to lenders and customers in the region and beyond.
Launched in 2011, Deposit Solutions is a B2B Open Banking platform catering primarily for savings remittances. The firm, based in Hamburg, has over 150 b2B clients including giant lenders such as Deutsche Bank. It operates their deposit marketplaces and serves as a link to deposit-taking banks across the rest of Europe.
Raisin, launched in 2012, is a provider of B2C deposit, savings and investment services in Europe. The firm also offers ETF portfolios and ETF-based pension products to customers within Germany.
As Raisin DS, both will combine their B2B and B2C offerings to better serve their existing customers, while also improving their reach and competitive edge.
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