Raisin raises $114M for its pan-European marketplace for savings and investment products

Raisin, the pan-European fintech marketplace for savings and investment products, is disclosing that it has raised $114 million in Series D funding. Existing investors Index Ventures, PayPal, Ribbit Capital and Thrive Capital all participated in the round, which brings the total raised to date to $200 million.

Tellingly, the fast-growing Berlin fintech says it plans to use the new capital for “strategic acquisitions” and further internationalisation. Although available to customers across the EU from the get-go, Raisin had dedicated market launches in the Netherlands and the U.K. last year, seeing the company expand beyond Germany. It plans to add at least two additional international markets this year.

Originally founded in 2013, Raisin set out to open up the savings deposit market in Europe by taking advantage of EU-wide banking regulation, which goes some way to creating a financial services single market. Specifically, the problem the startup solves is that saving deposit rates differ not only from one local bank offer to another but more noticeably across Europe as a whole.

The Raisin marketplace lets you shop around and compare different rates European-wide. However, the key difference to a comparison site is that, via its own bank partner, the company offers consumers a single interface that includes account opening and anti-money laundering checks, making it easy to switch and continually ensure you get a competitive interest rate.

For the banks that integrate with the Raisin marketplace, especially smaller and midsize banks, they get exposure to customers across Europe that might otherwise never be reached. It also gives them potential access to many more deposits, which helps with their own balance sheet lending and scale.

To that end, Raisin says that it has brokered more than $11 billion in deposits for its 62 partner banks. It claims more than 160,000 customers from 31 different European countries, and says that to date Raisin has helped savers earn $90 million in interest.

Meanwhile, Raisin says the new “infusion” of capital will enable the fintech to strengthen its position as the preeminent online platform that gives Europeans access to the “single financial market” for savings.

Comments Raisin CEO and co-founder Dr. Tamaz Georgadze: “We want to break through unnecessary barriers to profitable saving and share the benefits of open markets – with both consumers and banks. Our central aim is to give savers and financial institutions the ‘Schengen experience’ for banking. Our first five years demonstrate that, indeed, Raisin stands for the saving and investing of the future.”

Two more bangers for the Switch’s NES selection: Kirby and Super Mario Bros 2

Nostalgia for the NES is high following the success of Nintendo’s classic mini consoles and the launch of its Switch Online service, which just got a couple more great additions to its selection of 8-bit games: Kirby’s Adventure and the immortally weird Super Mario Bros 2.

Kirby had just made his debut on the Game Boy, but the NES follow-up really improved things. Better controls, better graphics, still hard as hell.

Super Mario Bros 2 is remembered as a curiosity, but it deserves more than that. Sure, it’s just an asset swap for Doki Doki Panic, but that doesn’t matter. It’s a fantastic game and you should take this opportunity to play it all the way through.

As long as you’re here, I feel I should also plug the games added a couple weeks back that probably didn’t get the love they deserved, then or 30 years ago.

Blaster Master is one of my favorite games of all time and massively underplayed. It’s an early “Metroidvania,” as we call such things these days, with amazing controls both in the side-scrolling and top-down portions, and a huge, crazy world to explore. This is an absolute classic and anyone who loves the NES should play it — or, if you find the original a bit clumsy, try the recent remake, which was both faithful and added some serious upgrades.

Zelda 2 also got added two weeks ago, and while it definitely has its problems, it’s actually a really compelling game and worthy of the name. But cast aside your associations and just play it as if it’s an old gem — use a walkthrough or VGmaps to help, though, because this game is a real bastard.

So far the selections for NSO have been quite good, and they play well. The service is still extremely barebones even for its paltry asking price, but at least you can’t complain (too much anyway) about the selection of free NES titles. With a few more trickling in every month, the library will soon be quite formidable and I might even start using it instead of my hacked SNES Classic. Especially with the rumor (and near certainty) that SNES games are soon to join their 8-bit cousins.

Nintendo is definitely going through some growing pains with its online service, but I feel that in a year it’ll be up to snuff. They tend to approach everything by first establishing essentials, and then adding bit by bit. No doubt we’ll hear more at GDC and E3 later this year.

Google’s still not sharing cloud revenue

Google has shared its cloud revenue exactly once over the last several years. Silence tends to lead to speculation to fill the information vacuum. Luckily there are some analyst firms who try to fill the void, and it looks like Google’s cloud business is actually trending in the right direction, even if they aren’t willing to tell us an exact number.

When Google last reported its cloud revenue, last year about this time, they indicated they had earned $1 billion in revenue for the quarter, which included Google Cloud Platform and G Suite combined. Diane Greene, who was head of Google Cloud at the time, called it an “elite business.” but in reality it was pretty small potatoes compared to Microsoft’s and Amazon’s cloud numbers, which were pulling in $4-$5 billion a quarter between them at the time. Google was looking at a $4 billion run rate for the entire year.

Google apparently didn’t like the reaction it got from that disclosure so it stopped talking about cloud revenue. Yesterday when Google’s parent company, Alphabet, issued its quarterly earnings report, to nobody’s surprise, it failed to report cloud revenue yet again, at least not directly.

Google CEO Sundar Pichai gave some hints, but never revealed an exact number. Instead he talked in vague terms calling Google Cloud “a fast-growing multibillion-dollar business.” The only time he came close to talking about actual revenue was when he said, “Last year, we more than doubled both the number of Google Cloud Platform deals over $1 million as well as the number of multiyear contracts signed. We also ended the year with another milestone, passing 5 million paying customers for our cloud collaboration and productivity solution, G Suite.”

OK, it’s not an actual dollar figure, but it’s a sense that the company is actually moving the needle in the cloud business. A bit later in the call, CFO Ruth Porat threw in this cloud revenue nugget. “We are also seeing a really nice uptick in the number of deals that are greater than $100 million and really pleased with the success and penetration there. At this point, not updating further.” She is not updating further. Got it.

That brings us to a company that guessed for us, Canalys. While the firm didn’t share its methodology, it did come up with a figure of $2.2 billion for the quarter. Given that the company is closing larger deals and was at a billion last year, this figure feels like it’s probably in the right ballpark, but of course it’s not from the horse’s mouth, so we can’t know for certain. It’s worth noting that Canalys told TechCrunch that this is for GCP revenue only, and does not include G Suite, so that would suggest that it could be gaining some momentum.

Frankly, I’m a little baffled why Alphabet’s shareholders actually let the company get away with this complete lack of transparency. It seems like people would want to know exactly what they are making on that crucial part of the business, wouldn’t you? As a cloud market watcher, I know I would, and if the company is truly beginning to pick up steam, as Canalys data suggests, the lack of openness is even more surprising. Maybe next quarter.