Raisin Bank, a wholly owned subsidiary of fintech Raisin, expands into the payments industry following its acquisition from Bankhaus August Lenz. The bank operates as a fronting and service bank with a full banking license, enabling it to facilitate financial transactions. Raisin previously focused on online savings and investment platforms, connecting retail customers with banks across Europe and the USA.
Raisin Bank acquires Bankhaus August Lenz’s payment division to introduce bulk payments and cash services. The Germany-based banking-as-a-service provider now integrates these offerings into its product lineup. The deal expands Raisin Bank’s capabilities in financial transaction solutions for clients.
Freshfields Bruckhaus Deringer advised Raisin Bank AG on acquiring Bankhaus August Lenz AG’s payment services division. Raisin Bank operates as a subsidiary of German fintech Raisin GmbH. The deal expands Raisin’s payment infrastructure capabilities.
Raisin Bank AG acquires Bankhaus August Lenz & Co’s payment services division to enter the payments market. The move allows Raisin Bank to integrate payment processing capabilities into its existing financial services. The transaction expands Raisin’s offerings beyond savings and lending into transactional banking solutions.
Jun 2022PYMNTSNews article
Bankhaus August Lenz (payment unit)
Bankhaus August Lenz's payment unit is the payment services division of Bankhaus August Lenz & Co. AG.
