Frank Freund is one of three co-founders of Raisin, with Tamaz Georgadze and Michael Stephan. The company was incorporated on 18 December 2012 in Berlin under the name Weltsparen, and the platform launched in 2013.
The idea was to give a saver one account and one login to deposit money with banks across Europe. That earned better rates, and each deposit was covered by the deposit guarantee of its country.
The company took about a decade to reach profit. A Series E followed in March 2023 at a valuation of about $1.1 billion. A secondary share sale of more than €100 million in December 2024 valued it above €2 billion.
In 2025 the company converted to Raisin SE. Its key investors include PayPal, Index Ventures, Ribbit Capital and Lakestar. It is privately held.