\tOrange Digital Ventures (ODV) was one of several investors which participated in a \u20ac100 million Series D fundraising round for Raisin, a Berlin-based fintech company, as the operator looks to tap European retail banking opportunities.<\/p>\n
In a statement, ODV explained Raisin is the \u201cleading pan-European marketplace in retail banking, removing barriers to profitable and easy savings for consumers as well as creating simple and fast access to liquidity for banks\u201d.<\/p>\n
The operator believes \u201cthe opportunity that Raisin addresses lies in the retail savings market\u201d where deposits are matched with credit through retail banks. It quoted the European Banking Federation as stating the total deposits of businesses and households in 2017, across more than 6,250 institutions, was approximately \u20ac16.3 trillion.<\/p>\n
\u201cRaisin and Orange will mutually benefit from each other\u2019s technological assets and the European go-to-market and fintech ecosystems, aiming at the same goal: changing the banking market,\u201d the operator said.<\/p>\n
It added Raisin\u2019s solution align with Orange\u2019s strategic objectives, particularly in mobile financial services, where the group has two key initiatives: Orange Bank in Europe; and Orange Money in Africa.<\/p>\n
Marc Rennard, ODV chairman (pictured), said the company \u201cwill bring all its support to Raisin\u2019s expansion into new markets and product development”.<\/p>\n
In February ODV participated [1] in an $11 million funding round by consumer credit scoring company Aire.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/money\/news-money\/orange-backs-ai-credit-scoring-start-up\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Orange Digital Ventures (ODV) was one of several investors which participated in a €100 million …<\/p>\n
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