• Raisin achieves first profit in 12 years, due to a surge in customer deposits and rising interest rates.
  • Company plans to reinvest profits into marketing and client acquisition, focusing on long-term growth and operational profitability.

Berlin-based fintech company Raisin has announced its first-ever profit since its inception 12 years ago. This milestone was achieved due to a substantial influx of €24 billion in new customer deposits, driven by rising interest rates.

In 2023, Raisin nearly doubled its revenue compared to the previous year, reaching €158.5 million. This translated into a €20 million earnings before interest, tax, depreciation, and amortization (EBITDA), a significant turnaround from the negative EBITDA of €19 million in 2022. The company also reported an after-tax profit of €850,000, contrasting the €33.8 million loss in the prior year.

However, Raisin’s Chief Financial Officer, Frank Freund, has cautioned that this net profit may be a one-time occurrence. The company intends to reinvest the generated cash into marketing and client acquisition, focusing on long-term growth and maintaining operational profitability.

Raisin operates online platforms across several countries, enabling consumers to compare and access various financial products. The company generates revenue through commissions from banks using its platform for funding. With a growing international presence and plans to diversify its product offerings, Raisin remains focused on its long-term growth strategy.

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