German-based fintech Raisin has seen its model ETF portfolios reach the €500m milestone just two years after launch in March 2018.

The four model portfolios, which are made up of entirely Vanguard ETF and index funds, have an equity share of 30%, 50%, 70% and 100%, respectively.

The milestone comes as the firm saw deposits on its platform rise above €20bn and its customer base reach 230,000.

Tamaz Georgadze (pictured), co-founder and CEO of Raisin: “Reaching these new milestones affirms the relevance of our mission – breaking down barriers so that savings can actually pay off.

“Now more than ever we believe in the benefits of cross-border banking and harmonising liquidity imbalances, as well as regulation, across Europe.”

Last November, the firm partnered with ETF consumer guide and data provider justETF to offer 10 select ETF portfolios on its German platform WeltSparen.