Raisin
“Can a savings marketplace that acquired its own banking licence become the dominant European BaaS fronting bank and deposit aggregation platform for both retail savers and fintech partners?”
Raisin launched in 2012 as a cross-border savings marketplace, enabling European retail depositors to access higher-yield deposits at partner banks via a single platform. After acquiring its own banking licence through MHB Bank in 2019 (rebranded Raisin Bank AG), the company pivoted from a pure marketplace model to also operating as a Banking-as-a-Service provider, offering licensed fronting bank services, SEPA payment infrastructure, and lending origination to fintech partners such as Wayflyer and Mondu. The US expansion positioned Raisin as a deposit aggregator leveraging a one-time KYC model across custodial and service banks.