Raisin, the Germany-based savings and investment platform, said it acquired Fairr, a fintech also located there that specializes in pensions and retirement savings.

Raisin officials said the acquisition will help its 200,000 customers gain access to fixed-term, overnight and ETF accounts, as well as specialized pension plans.

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The German pension market is estimated to be more than $13.3 trillion (12 trillion euro) and Raisin said the company now becomes the only fintech that offers savings, investment and retirement fund access in the world. “The Fairr team has written a remarkable success story, translating and simplifying products like Riester and Rurup for the digital age,” Tamaz Georgadze, co-founder and CEO of Raisin, said in the announcement. “Through the takeover we will be able to expand our product offering specifically around the important aspects of retirement saving.”

Reister is a plan for anyone paying German income tax or employees subject to withholding who is contributing to public retirement insurance, while Rurup is a plan for the self-employed, freelancers and high-wage earners. Raisin has a long relationship with Fairr, starting off as an angel investor for the fintech, and Raisin set up its ETF-based pension plan with Fairr, accoridng to a spokesperson for Raisin. Fair.de will now operate under the name Fairr by Raisin and operate on a standalone basis, according to the spokesperson.

The three founders of Fairr will join Raisin and assume leading roles at Raisin’s new investments and pension products division, according to Raisin. “For consumers, retirement savings are still a very opaque, dusty, cost-intensive business,” Fairr co-founder Jens Jennisson, said in the announcement. “With Raisin’s access to the market, we will be able to expand our reach significantly and continue to revamp the retirement savings market.”

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