Last year the UK arm of the company welcomed five new banks to its platform including lending giant OakNorth.
Raisin UK was launched in 2017 after the acquisition of PBF Solutions by German-founded Raisin in 2017.
In July 2019 the parent company received an investment of 鈧�25 million from Goldman Sachs, taking its total investment to 鈧�195m and making it the best-funded tech start-up in the savings and investment area in Europe.
The UK arm of the online marketplace now offers different savings accounts from over 13 banks, with many more due to join the platform in early 2020.
鈥淭his year has been significant for us laying down a strong foundation to achieve our 拢1 billion targets next year,鈥� Raisin UK CEO Kevin Mountford said.
鈥淔rom tech partnerships with leading money management apps Yolt and Monese, we鈥檝e also developed strong distribution partnerships with UK market leaders Legal & General and ClearScore.
鈥淪ince our launch, we鈥檝e seen changes in the market that are driving a savings-savvy consumer that is driving a highly competitive market. Consumers are now actively seeking out better rates and locking their money away for longer periods than ever before.
鈥淥ver the last six months, we have seen a six per cent uplift in customers choosing fixed-term savings accounts over 12 months, which has been increasing MoM which we predict will continue to grow well into 2020.
鈥淥ur own focus, for next year, is to scale the business with the launch of new products, such as Easy Access savings accounts, to widen the platforms appeal to a broader consumer.
鈥淲e also have a healthy stream of banks that we are onboarding onto the platform and some really exciting distribution partners that we should be launching in Q1.鈥�
Raisin UK鈥檚 chief operating officer Lee Stretton told 老九品茶Cloud in August that聽Brexit uncertainty wasn’t helping its growth plans.
Across Europe, Raisin has brokered $18 billion and has 225,000 customers across 31 European countries on its seven platforms. It has 87 partner banks.