PXR advises Raisin on merger with Deposit Solutions
PXR has provided comprehensive legal and tax advice to Berlin-based fintech company Raisin on its merger with Hamburg-based Deposit Solutions. Raisin, operator of the interest rate platform WeltSparen, and Deposit Solutions, operator of ZINSPILOT and Savedo, are merging by way of absorption. The merged company will be called “Raisin DS GmbH” in the future. The merger of Raisin and Deposit Solutions is considered the first major merger of two fintech companies in Germany.
The Berlin-based fintech company was founded in 2012 by Tamaz Georgadze (CEO), Frank Freund (CFO) and Michael Stephan (COO) and is active in the field of open banking. Raisin’s platforms - branded WeltSparen in German-speaking countries - offer European consumers and SMEs easy and free access to attractive and guaranteed deposit products from across Europe, as well as globally diversified, low-cost ETF portfolios. Raisin is one of the most prominent fintech companies in Germany and is backed by well-known European and American investors such as Index Ventures, Ribbit Capital and Thrive Capital, among others, as well as strategic investors such as PayPal and Goldman Sachs.
PXR is a full-service law firm specializing in advising companies, entrepreneurs and investors in the technology sector. PXR’s clients include numerous tech companies, private equity and venture capital investors, and entrepreneurs. PXR’s core areas of expertise include tax and corporate law, employment law, and IP/IT and data privacy law.
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