International law firm Simmons & Simmons has advised Kinnevik, a former shareholder of Deposit Solutions, on the merger of Deposit Solutions with Raisin. The merger created Raisin DS, a pioneer in the savings and investment market, servicing banks and consumers on both sides of the Atlantic.
Kinnevik is a leading listed growth investor based in Sweden, specialising in long term business building. Kinnevik provides hands on operational support to its portfolio companies, as well as high level strategic perspective with a particular focus on sustainability.
Deposit Solutions was the leading B2B open banking platform in the savings deposit space. The company operated deposit marketplaces for over 150 partners, including large institutions such as Deutsche Bank, and connected them with deposit-taking banks from all across Europe.
Raisin was the leading pan-European B2C platform for savings and investments. Raisin’s marketplaces offered consumers simple access to competitive deposit products from all across Europe. In Germany, the company also offered globally diversified, cost effective ETF portfolios and ETF based pension products.
As Raisin DS, both companies are now able to unite the best-in-class B2B offering and Europe’s leading B2C savings marketplaces under one name.
The Simmons team advising Kinnevik was led by Munich-based private equity partner Dr Fabian von Samson-Himmelstjerna with cross practice support from Simmons’ German tax team.
Commenting on the deal, Fabian said: “This is a significant merger for Kinnevik’s portfolio. Uniting these two trusted brands under one roof offers both B2B and B2C clients and partners a full cycle savings suite across Europe.”
The Simmons & Simmons team:
Lead: Dr Fabian von Samson-Himmelstjerna (Partner, Corporate M&A, Munich)
Dr Markus Schmid (Counsel, Corporate M&A, Munich)
Daniel Zhu (Supervising Associate, Corporate M&A, Munich)
Sam Bertling (Associate, Corporate M&A, Düsseldorf)
Dr Bernulph von Crailsheim (Partner, Tax, Frankfurt)
Elmar Weinand (Counsel, Tax, Frankfurt)
