Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Raisin Bank AG (‘Raisin Bank’), a subsidiary of the German fintech Raisin GmbH, on its acquisition of the payment services division of Bankhaus August Lenz AG.

With the newly acquired division, Raisin Bank is also entering the cash supply business to diversify its revenue sources. For Raisin Bank, the acquisition marks an important strategic step on its way to obtain a considerable footprint in the payment services business.

The Freshfields team was led by Partner and Co-Head Financial Institutions Alexander Glos (Corporate/Regulatory, Frankfurt) and Partner Patrick Cichy (Corporate/M&A, Hamburg). It further comprised Associates Frauke Thole, Friederike Sibbe and Simon Schulte (all Corporate/M&A, Hamburg), Principal Associate Nicholas Lütgerath (Corporate/M&A, New York).

Specialist support was provided by Partner Alexander Schwahn (Tax, Hamburg), Partner Theresa Ehlen (IP, Frankfurt), Counsel Holger Hartenfels, Associate Hans-Ulrich Klöppel (Regulatory, Frankfurt), Principal Associates Niklas Eckert and Judith Römer (Employment, Hamburg), Associates Andrea Strackerjan, Jan Willem Kothe (both Tax, Hamburg), Associate Elisabeth Wulf (IP, Hamburg) und Principal Associate Tibor Szigetvari (Data Protection, Frankfurt).