Daily news

Open Banking Infrastructure Innovator Axway Acquires e-invoicing Specialist AdValvas

Open Banking Infrastructure Innovator Axway Acquires e-invoicing Specialist AdValvas
By David Penn Posted on
Categories: Alumni News, Axway, Daily news, Mergers & Acquisitions
  • Open Banking infrastructure company Axway has acquired Belgium-based e-invoicing specialist AdValvas.
  • The acquisition brings new invoicing and compliance capabilities to Arizona-based Axway.
  • Axway made its Finovate debut last year at FinovateSpring in San Francisco.

Open Banking infrastructure company Axway has made an overseas acquisition. The Arizona-based fintech acquired AdValvas, a Belgium-based e-invoicing processes specialist. The purchase underscores Axway’s status as a leader in B2B integration and EDI and brings new invoicing and compliance capabilities to the firm. These new capabilities include embedded support for Peppol and French VAT reform – as well as other B2G (business-to-goverment) and B2B e-invoicing mandates around the world.

Neither Axway nor AdValvas disclosed the amount of the transaction.

The acquisition comes at a time of greater regulatory interest in e-invoicing. Regulators are debating new requirements for B2B invoicing in France. In the EU overall, B2G e-invoicing is currently mandatory for all public procurements. The trend toward Continuous Transaction Control provides additional impetus for firms to embrace e-invoicing.

“AdValvas has been at the forefront of Peppol and e-invoicing for the past decade, helping steer the direction of invoice compliance around the globe,” Axway CEO Patrick Donovan said. “We are thrilled to welcome AdValvas and look forward to leveraging their deep expertise to help our customers navigate the delicate compliance waters ahead.”

Michel Gillis, formerly CEO of AdValvas, will serve as VP of e-invoicing with Axway. He called the acquisition a “significant milestone” in AdValvas’ “growth journey.” Going forward, AdValvas will operate as an Axway subsidiary. The company’s products and services will be integrated into Axway’s B2B Integration platform.

Axway made its Finovate debut a year ago at FinovateSpring in San Francisco. At the conference, the company demoed how its Open Banking technology enabled the secure sharing of financial data across digital ecosystems. Axway offers configured open banking APIs; an intuitive, collaboration-friendly developer experience; and pre-configured consent management integration to minimize risk.

Photo by Paul Deetman

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Bittrex Files for Bankrupcy After Being Sued by SEC

Bittrex Files for Bankrupcy After Being Sued by SEC
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Digital asset trading platform Bittrex filed for Chapter 11 bankruptcy.
  • Bittrex Global will not be impacted by the change.
  • Today’s news comes three weeks after the U.S. Securities and Exchange Commission (SEC) charged Bittrex and its former CEO William Shihara for operating an unregistered exchange, broker, and clearing agency.

U.S. digital asset trading platform Bittrex filed for Chapter 11 bankruptcy yesterday. The company’s international operation, Bittrex Global, will not be impacted by the change.

Seattle-based Bittrex shut down in the U.S. on April 30, but has asked the bankruptcy court to allow it to re-open temporarily so that it can return crypto assets to U.S. customers who were unable to withdraw their funds prior to the April 30 closure.

Today’s bankruptcy filing comes after the U.S. Securities and Exchange Commission (SEC) charged Bittrex and its former CEO William Shihara for operating an unregistered exchange, broker, and clearing agency on April 17. Specifically, the agency alleged that Shihara encouraged crypto asset issuers to delete public statements that could lead regulators to investigate those token offerings as securities.

Bittrex has denied the SEC’s allegations that its digital assets are securities or investment contracts.

Unfortunately for the crypto world, the news of a digital asset trading platform shutting down in the U.S. is not shocking. Bittrex’s U.S. shutdown and bankruptcy follow the demise of FTX, Celsius, Voyager, and BlockFi– all of which have taken place in the past year. One reason decentralized finance (DeFi) companies operating in the U.S. are becoming an endangered species is because of the ambiguous regulatory environment in the U.S.

The SEC has not firmly laid out rules for crypto companies and, based on the fines it has issued, is making it clear that crypto firms are not as welcome in the U.S. as they are in other geographies.

Photo by Melinda Gimpel on Unsplash

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Paydora Finance Unveils White-Label Banking Platform

Paydora Finance Unveils White-Label Banking Platform
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Paydora Finance is publicly launching its white-label embedded finance tool today.
  • Germany-based Paydora Finance can help organizations launch their own branded digital bank account, payment card, and onboarding experience.
  • Dock is powering the technology and regulatory infrastructure behind Paydora Finance.

Banking-as-a-Service (BaaS) company Paydora Finance announced its public launch today. The Germany-based company offers a white-label banking platform that enables organizations to offer their own embedded finance solutions.

Businesses and organizations can leverage Paydora’s solution to offer their B2B or B2C customers a fully branded digital banking account, Mastercard payment card, onboarding experience, and customer data hub. The product enables companies to create new revenue streams while maintaining control of the branded experience. What’s more, Paydora’s BaaS platform can be launched in as few as 30 days, with no coding experience necessary.

“Companies and organizations can now embed B2C and B2B banking solutions into their own product ecosystem much faster and without any development effort and bring them to market in the shortest possible time. This allows them to offer significant added value to their existing and new customers, which generates additional revenue,” explained Paydora Cofounder and CEO Claudio Wilhelmer.

Wilhelmer comes to Paydora from Revolut and NumberX. He is joined by co-founders Matthias Seiderer, previously with Anyline and NumberX; and Christofer Trowe, previously with PPRO and Payback.

Paydora, which was originally founded last year, counts retail chain Metro, mobility service provider Eurowag, travel portal Booking.com, and more as clients. The company’s technology and regulatory infrastructure is built from Dock, a BaaS company that helps businesses digitize complex financial processes and simplify their processing.

BaaS has taken off not only within the fintech world, but also across a range of industries. Many companies have sought to create additional revenue streams by adding digital banking tools, payment cards, and more under their brands. However, as BaaS popularity has increased, so has regulatory scrutiny. Last week, the FDIC sent a cease-and-desist order to fintech partner bank Cross River Bank. The government agency accused the bank of engaging in unsafe or unsound practices related to its fair lending compliance. 

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Less Fraud, Less Friction: Darwinium Launches Continuous Customer Protection

Less Fraud, Less Friction: Darwinium Launches Continuous Customer Protection
By David Penn Posted on
Categories: Alumni News, Daily news, Darwinium
  • San Francisco, California-based fraud prevention startup Darwinium has launched its Continuous Customer Protection platform.
  • The new offering helps close the gap between digital security and fraud prevention silos.
  • Darwinium made its Finovate debut earlier this year at FinovateEurope in London.

Security and fraud prevention specialist Darwinium has launched its Continuous Customer Protection platform. The technology helps deal with the problem of disconnected point-in-time API integrations and risk scores. These issues can lead to both data breaches and a poor customer experience. Darwinium’s Continuous Customer Protection platform provides continuous visibility and control throughout the entire customer journey. This enables the technology to proactively cover the distance between the silos of digital security and fraud prevention.

In a statement, Darwinium co-founder and CEO Alisdair Faulkner noted research that highlighted the impact of fraud controls on the customer experience. More than 80% of businesses, according to the report, said that fraud controls contribute to unwanted friction for customers. “To create a low-friction customer experience while also enabling optimal fraud and security controls, Darwinium has architected a new path forward for improved fraud detection in real time that performs dramatically better and faster and takes only minutes to deploy – all while providing a positive and privacy-protected customer online experience and frustrating fraudsters,” Darwinium CEO and co-founder Alisdair Faulkner said.

Darwinium is deployed at the network edge, via content delivery network (CDN) infrastructure, using edge workers. This gives the technology full, omni-channel visibility and the ability to provide real-time insights into device, network, identity, behavior, content, and location. The solution also can call out to third-party APIs to conditionally refine risk decisions.

Darwinium’s primary customers are payment service providers, fintechs, gaming companies, and online marketplaces. Faulkner indicated that further penetration of these markets was high on Darwinium’s agenda. “The challenges online U.S. businesses face with surging fraud and operational silos, combined with our unique solution make this an ideal time to expand and enter the market in force,” Faulkner said.

Headquartered in San Francisco, California, Darwinium made its Finovate debut earlier this year at FinovateEurope in London. The company was launched in 2021 by the team that founded, built, and scaled digital identity innovator ThreatMetrix. Relx Group acquired ThreatMetrix in 2018.

Photo by Johannes Plenio

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Funderbeam Lands $40 Million for Angel Investing and Trading Platform

Funderbeam Lands $40 Million for Angel Investing and Trading Platform
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news, Funding
  • Funderbeam has received $40 million in funding, boosting its total raised to just under $60 million since it was founded in 2013.
  • Venture private equity group VentureWave led the round, taking a majority stake in Funderbeam.
  • The investment also brings a strategic partnership between Funderbeam and VentureWave, as the two seek to facilitate venture deals and offer access to the secondary market.

Angel investing and trading platform Funderbeam received $40 million in funding this week. The investment brings the U.K.-based company’s total funding to just shy of $60 million. Leading the round is Ireland-based venture private equity group VentureWave, which now holds a strategic majority stake in Funderbeam.

With this week’s fresh funding and strategic partnership, the two organizations will combine efforts to facilitate venture deals and offer access to the secondary market for venture deals for both institutional and angel investors.

“VentureWave’s investment in Funderbeam is a game-changer for the industry, shaping the future of venture markets and enabling access to global venture deals and secondaries,” said VentureWave Chairman Alan Foy. “Together, we have the necessary assets, technology, and capital to take on the entire venture investment life cycle. This represents a transformative moment to put impact at the centre of the investment industry.”

Notably, the partnership will enable Funderbeam to serve institutional clients, including VC funds, family offices, brokers and investment banks. The company will continue to serve investor networks and provide its flagship private-market-as-a-service offering, Angel Market. Additionally, as Funderbeam Founder and CEO Kaidi Ruusalepp noted, the deal will enable his firm to accelerate its vision, which he described as “to serve venture investments across borders and create a unique secondary market for private assets.”

Additional investors in today’s round– which is subject to approval by regulators in the U.K., Singapore, and Estonia– include Mistletoe, Draper Associates, and Ruusalepp.

Founded in 2013, Funderbeam offers a platform to help solve liquidity for angel and venture investments. The company’s technology helps investor networks, accelerators, and other venture investors manage their syndicated investments, post-investment flows, and handle secondary transactions across borders.

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Velmie Launches Payment Card-as-a-Service

Velmie Launches Payment Card-as-a-Service
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Velmie added a card module to its updated white-label BaaS solution.
  • The new card module will help businesses offer their own customized physical or virtual payment card.
  • Velmie’s new release also enables businesses to issue physical and virtual corporate cards to their employees.

Mobile e-wallet platform Velmie released an updated white-label solution that offers the addition of a card module. The new BaaS offering will help companies build and launch their own fintech business.

The card module is a new feature of Velmie’s white-label solution and will offer businesses a comprehensive tool set to launch their own customized physical or virtual payment card product. The solution integrates with both Apple Pay and Google Pay, and includes 3D Secure to protect against fraud.

Additionally, Velmie enables businesses to issue physical and virtual corporate cards to their employees. Doing so offers businesses visibility and control over expenses, enables them to set spending limits, and provides them control over transaction types.

“Velmie built white-label solutions not only to speed up time to market for new fintech products but to make them scalable and future-proof,” said Velmie Founder and CEO Slava Ivashkin. “We’re excited to release our upgraded Velmie application. We believe it will be valuable for fintech companies and banks looking to create innovative solutions that meet the changing needs of their customers.”

Facilitating this week’s launch are Velmie’s recent fintech partners, including  payment, open banking, and sustainability services fintech Enfuce and all-in-one business financial platform ConnectPay.

Velmie was founded in 2010 and its technology helps traditional banks and mobile wallet companies provide compliant and scalable mobile banking, e-wallets, remittance platforms, payroll solutions and more to their end customers. With three office locations spanning from the U.S., the U.K., and Lithuania, Velmie serves customers across four continents.

Photo by Ketut Subiyanto

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Venmo Adds Crypto Transfers

Venmo Adds Crypto Transfers
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Daily news, PayPal, Venmo

PayPal-owned Venmo is continuing its journey into DeFi this month. Late last month, the California-based company unveiled a new peer-to-peer crypto transfer capability. The new feature enables users to transfer crypto to friends and family using Venmo, PayPal, and external wallets and exchanges.

Venmo first introduced crypto to its users in 2021, but the capabilities were limited. Within the Venmo app, users could only buy, hold, and sell cryptocurrency. This month’s development adds to the company’s crypto wallet capabilities, rounding out the utility from saving and investing into spending and giving.

The company reports that, over the past year, more than 74% of its crypto customers have continued to hold crypto in their accounts. “In addition,” today’s announcement said, “since the beginning of 2023, nearly 50% of customers with existing crypto balances have added to their crypto holdings on Venmo.”

To send their crypto to friends and family, customers use the Crypto tab within the Venmo app and use the transfer arrows to transfer a select amount of their crypto to a Venmo account, or to a recipient’s PayPal wallet address or other external wallet. To receive crypto, users show their unique crypto address QR code with other users.

Select Venmo customers will have the ability to send crypto transfers starting this month. The company will roll out the new capability to more users over the coming months.

Photo by Thought Catalog

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BioCatch Secures $40 Million Minority Stake Investment from Permira Growth

BioCatch Secures $40 Million Minority Stake Investment from Permira Growth
By David Penn Posted on
Categories: Alumni News, BioCatch, Daily news, Funding
  • Behavioral biometrics and fraud detection innovator BioCatch has raised $40 million in funding.
  • The investment gives Permira a “significant minority stake” in the Tel-Aviv-based company.
  • BioCatch made its Finovate debut at FinovateFall 2014.

Behavioral biometrics innovator BioCatch has raised $40 million in funding courtesy of an investment from Permira Growth Opportunities. The capital gives Permira a “significant minority stake” in the New York and Tel Aviv-based company. In fact, along with Bain Capital and Maverick Capital, this week’s capital infusion makes Permira BioCatch’s third largest shareholder.

“Permira is one of the leading global private equity firms in the world, with particularly strong experience in the technology space,” BioCatch CEO Gadi Mazor said. “We believe its deep sector expertise and company-building capabilities will help us to expand our business and strengthen our global position.”

The funding takes BioCatch’s total capital raised to more than $213 million. No new valuation information was provided. BioCatch will use the capital to help support geographical expansion, product development, and potential M&A.

BioCatch is a pioneer in behavioral biometric intelligence and advanced digital fraud detection. Its technology leverages AI and machine learning to collect thousands of data signals to analyze the cognitive intent of users. This enables BioCatch to provide highly accurate insights into the legitimacy of a user’s identity and behavior. Financial institutions using BioCatch’s technology have been able to better fight fraud, accelerate digital transformation efforts, uncover new revenue opportunities, and boost customer satisfaction.

Founded in 2011, BioCatch made its Finovate debut at FinovateFall in 2014. In the years since, the company has grown into a fraud detection leader with a global footprint of 22 countries. More than 100 international banks rely on BioCatch’s technology to fight financial crime and defend themselves against fraud. BioCatch announced early this year that 2022 had been the firm’s “most successful” – with annual recurring revenue growth of more than 40%. BioCatch also revealed that the company added more than 100 leading global banks as customers in 2022 and detected more than $1.5 billion in fraud, saving banks nearly $1 billion.

Photo by Quang Nguyen Vinh

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Celerant Technology Partners with Buy Now Pay Later Innovator Sezzle

Celerant Technology Partners with Buy Now Pay Later Innovator Sezzle
By David Penn Posted on
Categories: Alumni News, Daily news, Sezzle
  • Retail software company Celerant Technology has partnered with BNPL innovator Sezzle.
  • Celerant will integrate Sezzle’s SezzlePay solution into its platform. SezzlePay enables consumers to pay for purchases in four, interest-free installments over six weeks.
  • Sezzle made its Finovate debut at FinovateSpring 2016.

Retail software provider Celerant Technology announced a partnership with consumer financing solutions company Sezzle. The partnership will enable retailers who use Celerant eCommerce to add Sezzle Pay to their payment choices. This option gives consumers the ability to take advantage of Sezzle’s buy now, pay later (BNPL) financing, with 0% APR. Retailers will also benefit from engagement with potentially millions of Sezzle users, an opportunity that could lead to increased online sales and new customers.

“We’re excited to partner with a leader in the retail software industry and to bring Sezzle’s Buy Now, Pay Later financing to the millions of consumers that shop at Celerant’s diverse ecosystem of brands,” Sezzle co-founder and Chief Revenue Officer Paul Paradis said.

Paradis underscored the popularity of BNPL financing among millennials and Gen Z consumers. He pointed to the fact that BNPL financing charges no interest and no fees when purchases are paid for on time, as well as the ability to use BNPL to build credit, as two factors in favor of the financing option. “It’s a runaway hit,” Paradis said.

Celerant’s eCommerce platform enables retailers to offer Sezzle to customers directly from their website. The process is straightforward. Customers select SezzlePay as their payment option during checkout. This will enable them to split the cost of the transaction into four interest-free payments over six weeks. Sezzle pays the merchant in full at the time of the transaction; funds are direct deposited in the merchant’s account within one-to-three business days. Sezzle also assumes full risk of any missed payments.

“With more consumers turning to instant credit apps to make ends meet, it was important to expand our technology with additional consumer financing options,” Celerant President and CEO Ian Goldman said. “As a popular ‘buy now, pay later’ solution in the industry, partnering with Sezzle provides more options for our retailers to offer their customers payment flexibility and help financially with larger purchases, and in turn increase our retailers’ online sales.”

Sezzle made its Finovate debut at FinovateSpring in 2016. The company returned to the Finovate stage two years later for FinovateFall. Sezzle began 2023 as the first BNPL company in Canada to offer free credit-building service to users. The firm also began the year as a profitable company, growing from a net loss of $75.2 million in fiscal year 2021 to ending 2022 with net income in Q4. The turnaround came as a result of major cost-cutting strategies. These efforts included layoffs; a retreat from potential expansion in Asia, Europe, and Latin America; and a renegotiation of merchant fees. Sezzle also benefitted from a premium membership drive that brought on more than 132,000 subscribers.

Founded in 2016, Sezzle is headquartered in Minneapolis, Minnesota.

Photo by cottonbro studio

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inbanx Taps Corserv To Launch Visa Commercial Card Offering

inbanx Taps Corserv To Launch Visa Commercial Card Offering
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Business budgets and digital payments platform inbanx has partnered with Corserv.
  • inbanx will leverage Corserv’s Payment Cards as a Service API to offer its business customers a Visa commercial credit card.
  • According to Juniper Research, the number of payment cards issued via digital platforms will grow 170% between now and 2027.

Business budgets and digital payments platform inbanx is boosting its offerings today by partnering with card issuer Corserv. Texas-based inbanx is integrating Corserv’s Payment Cards as a Service API (PCaaSA) into its platform to offer a more holistic business payments platform.

Integrating Corserv’s PCaaSA will enable inbanx to offer a Visa commercial credit card to its business clients. The new modern payment card solution will offer real-time, configurable spend controls and cooperative authorization for businesses that rely on hierarchical approvals and spending limits.

“Our highly configurable PCaaSA platform simplifies complex processes for inbanx to launch and embed commercial cards in a secure, compliant and flexible way,” said Corserv CEO Anil Goyal. “We are thrilled to work with inbanx to integrate with their innovative budget and expense management solution.”

Founded in 2021, inbanx helps businesses budget, manage their card program, and control spending across teams. By automatically reporting the expenses, inbanx’s solution eliminates the need for employees to fill out manual expense reports.

“We serve our customers with an innovative and easy-to-use solution that adopts the next generation of payment capabilities to allow businesses and their employees to spend efficiently,” said inbanx CEO Rob Kaczmarek. “Corserv’s payment card platform was the only solution that afforded us the customizability and flexibility to build exactly what we needed for our customers.”

Corserv has been helping banks and fintechs offer issuing processing and program management services for credit, debit, and prepaid cards since it was founded in 2009. The Atlanta, Georgia-based company has raised $2.1 million in funding and recently named Anil Goyal as its new CEO.

Modern card issuing is a hot space in the fintech realm, especially as banking-as-a-service and embedded finance becomes more popular. Juniper Research expects the number of payment cards issued via digital platforms to grow 170% between now and 2027, increasing from 500 million in 2023 to 1.3 billion by 2027. Global leaders in the modern card issuing space include Thales, G+D, FIS, Fiserv, and Marqeta.

Photo by Anna Tarazevich

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Avalara Teams Up with eBay to Bring Cross-Border Compliance Support to Merchants

Avalara Teams Up with eBay to Bring Cross-Border Compliance Support to Merchants
By David Penn Posted on
Categories: Alumni News, Avalara, Daily news
  • Seattle, Washingtion-based regtech Avalara has teamed up with online marketplace eBay.
  • Together, the two companies have launched eBay International Shipping, a compliance support solution for merchants operating across borders.
  • Avalara made its Finovate debut as part of our developer’s conference, FinDEVr Silicon Valley, in 2015.

Automated sales tax solution provider Avalara announced a new tool to help make it easier to sell products on eBay and ship them around the world. eBay International Shipping leverages Avalara’s technology to streamline the process of cross-border compliance for merchants on eBay’s platform.

“With eBay International Shipping, we’re making global connections even more accessible, affordable, and profitable, significantly increasing the volume of items available to shoppers in 200+ countries and making it even easier for our sellers to tap a universe of new business opportunities,” eBay U.S. VP and GM Adam Ireland said.

According to Juniper Research, the value of cross-border ecommerce will top $2.1 trillion this year. But the cross-border ecommerce market is not without its complications. Businesses must navigate through a range of customs duties and import taxes in a process that can be both complex and costly. Using Avalara’s software, eBay International Shipping determines Harmonized System (HS) commodity classification codes, identifies item-level trade restrictions, and generates landed cost pricing for more than 200 items hosted on eBay. The new offering will help the platform’s more than five million merchants sell to more than 70 million buyers worldwide.

“With Avalara’s cross-border solutions embedded within eBay’s International Shipping program, we’re able to simplify cross-border compliance complexity and reduce potential customer experience disruptions by providing more transparent landed cost pricing for global buyers and helping ensure parcels meet local customs requirements,” Avalara EVP and GM of Indirect Tax Jayme Fishman said.

Avalara made its Finovate debut at our developer’s conference, FinDEVr SiliconValley in 2015. In the years since, the company has grown into a leading regtech with more than 30,000 customers across 95 countries. Avalara went public in 2018. The firm was acquired in 2022 by Vista Equity Partners in a deal valued at $8.4 billion. Headquartered in Seattle, Washington, Avalara was founded in 2004. Scott McFarlane is CEO.

Photo by Amanda Grove

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Raisin U.S. Appoints New CEO

Raisin U.S. Appoints New CEO
By Julie Muhn (@julieschicktanz) Posted on
Categories: Daily news
  • Raisin has appointed Cetin Duransoy as CEO of the company’s U.S. division, SaveBetter by Raisin.
  • Duransoy comes to Raisin from Fundbox, where he served as President and COO.
  • Today’s announcement follows Raisin’s $64.7 million capital raise in March of this year.

Savings and investment product marketplace Raisin has appointed a new CEO for its U.S. savings division. The Berlin-based company has selected Cetin Duransoy to head SaveBetter by Raisin, its U.S. savings platform originally launched in 2020.

Duransoy

Raisin launched SaveBetter in 2020 to serve as an online marketplace where customers can choose from a variety of savings products, including savings accounts, money market deposit accounts, and certificates of deposit. The savings tool enables users to access more favorable rates than most traditional savings accounts from a single portal.

SaveBetter has seen impressive growth recently, having added $1 billion in assets under management in the past three-to-four months. Additionally, over the same time period, the company has brought 30 financial brands onto its online marketplace. 

In the release, Duransoy said this is an “exciting time” to join Raisin as CEO. “Having already established itself in the U.S. market, demonstrating scale to banking partners and tangible benefits in increased returns for everyday Americans, Raisin is poised to lead the way in further disrupting the American cash savings market and providing a valuable tool to help millions of savers secure their financial future,” he added.

Duransoy has more than 20 years of experience in financial services. He most recently served as President and COO Fundbox, and has also held senior positions at companies including Capital One and Visa.

Today’s announcement comes just over a month after Raisin raised $64.7 million (€60 million) in a Series E funding round led by M&G’s Catalyst and Goldman Sachs. The round boosted Raisin’s total funding to almost $305 million since it was founded in 2012.

Raisin counts more than one million customers and $31.7 billion (€38 billion) assets under management across the U.S., U.K., and European Union. The company taps its network of more than 400 banks and financial service providers from 30+ countries to offer its catalogue of savings, investment, and pension products. Tamas Giorgadse is Co-Founder and CEO.

Photo by ROMAN ODINTSOV

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