German fintech venture Raisin is set to acquire Frankfurt-based MHB Bank, its main banking service provider in Germany.

Established in 1973, MHB Bank is a service-banking provider for fintech companies in Germany. Besides Raisin, several other fintechs such as Exporo, CreditShelf and Bergfürst are its clients.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

MHB Bank acquisition: Details

Since 2005, MHB Bank is owned by an affiliate of American private equity firm Lone Star. Raisin will acquire the bank by purchasing all its shares to become the sole owner of the bank.

However, the financial details of the transaction have not been divulged.

As service bank for Raisin, MHB Bank is responsible for managing different aspects of the value chain. It included account management, customer identification and financial transactions.

Raisin intends to use this acquisition to expand its areas of operation as well as add to its value chain.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It is also expected to help the company in streamlining its customer onboarding process.

Raisin CEO and co-founder Tamaz Georgadze said: “As one of the leading fintechs in Europe, we believe in making sustainable changes to the financial system in order to make the needs of customers and partners paramount.

“Together with MHB, we can continue to develop — and seamlessly integrate — the services we offer customers, partner banks and distribution partners.”

The MHB Bank acquisition is subject to German Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB) approval.

The announcement of the acquisition comes within a month after Raisin raised $114m in the Series D funding round.