Orange Digital Ventures, the early-stage corporate investment vehicle of telecom operator Orange, has invested in German savings deposit marketplace Raisin as part of the latter’s €100m Series D funding round.
The amount Orange Digital Ventures invested was not revealed.
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“Raisin’s solution aligns with Orange’s strategic objectives, particularly in mobile financial services, where the group has two key strong initiatives with Orange Bank in Europe and Orange Money in Africa,” Raisin noted.
Earlier this year, Raisin raised money as part of the Series D round.
Participants were PayPal, Index Ventures, Ribbit Capital as well as Thrive Capital, all of whom were existing investors.
Commenting on the latest investment, Raisin co-founder and CEO Tamaz Georgadze said: “It’s particularly exciting for us because Orange has a proven track record, as both a successful international mobile operator and an accomplished financial technology provider.
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By GlobalData“In addition to the investment, we do see potential synergies and concrete partnership opportunities with Orange Bank.”
With the capital, Raisin plans to expand its investment offering.
In 2019, the deposit marketplace intends to expand in at least two more markets in Europe using the funds.
Raisin provides 250 savings products.
It serves more than 175,000 users across 31 countries and partners with over 75 banks.
