Paypal-backed European savings deposit marketplace Raisin has launched a dedicated website for its customers in the UK.

The new portal will enable the Berlin-based company to provide its services in the UK.

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Currently, BACB-the first partner bank on the British version of the platform- is offering multiple fixed-term savings accounts services ranging from one to three years.

In a statement, Raisin UK CEO Kevin Mountford said: “This represents the beginning of our journey to bring great partner banks with attractive offers to UK savers.

“Over time we will be introducing enticing marketplace features to offer savers a better deal for their money.”

Launched in 2013, Raisin focuses on the savings deposit market in Europe utilising the EU-wide banking regulations.

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It addresses the issue of varying saving deposit charges across different bank locally as well as across Europe by offering a single marketplace.

At Raisin, the customers cans shop around and compare the savings rates Europe-wide as well as receive a single interface that incorporates account opening and anti-money laundering checks.

It allows the customer to easily switch to ensure that they receive a competitive interest rate.

All the banks associated with Raisin including the small and midsized banks also get exposure to customers across Europe.

Last month, Raisin reported that more than €5bn has been invested using its savings solution by more than 100,000 customers across Europe.