German savings startup Raisin raises €30 million from VC linked to Trump’s son-in-law

Raisin teamRaisin’s cofounders.Raisin

A German fintech that lets people invest in savings accounts across Europe from one platform has raised €30 million (£25.5 million, $32.2 million) from the US venture capital fund run by Josh Kushner.

Raisin raised the Series C funding from Thrive Capital, which is founded and run by Kushner. Kushner is the brother of Jared, a key President Trump advisor and husband to Ivanka Trump.

Thrive has also backed successful tech startups such as Slack and Spotify, and last year raised a fresh $700 million fund.

Silicon Valley’s Ribbit Capital and London’s Index Ventures, both existing investors in Raisin, also took part in the Raisin round.

The investment in Raisin takes the total raised by the three-year-old firm to €60 million. Raisin announced last month that over €2 billion has been invested across its platform by more than 60,000 customers.

Jared Weinstein, a partner at Thrive Capital, says in a press release announcing the funding: “We are proud to support the incredible team at Raisin as they continue to build on their success providing the leading marketplace for savings across Europe.”

Raisin says in the release that it will use the new funds to continue international expansion, launch new localised versions of the service in markets such as Italy, and to launch new simple investment products.

Tamaz Georgadze, cofounder and CEO of Raisin, says in an emailed statement: “Our goal is to continuously strengthen Raisin’s innovative proposition and to become the go-to-marketplace for all Europeans for their savings and investment needs.”

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