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German fintech Raisin acquires pension savings firm Fairr in cash, stock deal

German financial technology company Raisin GmbH acquired retirement and pension savings company Fairr.de GmbH in a cash-and-stock deal, according to an Aug. 27 statement which did not disclose details of the transaction.

As part of the deal, Fairr's entire team will join Raisin and its three founders, Jens Jennissen, Alexander Kihm and Ambros Gleissner, will assume leadership roles in Raisin's newly formed investments and pensions products division.

The acquisition allows Raisin, which operates an online marketplace for deposits and investment products, to tap the €12 trillion European pension and retirement savings market — making it the only platform in the world to offer investment, pension and savings products in a single online marketplace.

Fairr's brand will be incorporated under Raisin's umbrella as fairr by raisin.