European BaaS Platform Solarisbank AG Secures €190M through Oversubscribed Collection D, Agency Now Valued at €1.4B

Solarisbank AG, which claims to be Europe’s main Banking-as-a-Service (BaaS) platform, reveals that it has acquired EUR 190 million in an “oversubscribed” Collection D spherical, valuing the agency at EUR 1.four billion.

The corporate’s funding spherical has been led by Decisive Capital Administration, together with contributions from progress traders, reminiscent of Pathway Capital Administration, CNP (Groupe Frère) and Ilavska Vuillermoz Capital. Current traders led by yabeo Capital, “alongside BBVA, Vulcan Capital and HV Capital, additionally participated within the spherical with important extra investments,” based on the announcement.

In the course of the previous yr, Solarisbank has been targeted on delivering in opposition to key milestones on their “bold enlargement journey.”

Dr. Roland Folz, CEO of Solarisbank stated that the funding is “the results of their excellent work and can additional gas our imaginative and prescient to create a world the place monetary providers seamlessly sync with life.”

Solarisbank goals to help the “inevitable development” of embedded finance by enabling international manufacturers and “fast-growing” Fintech corporations to combine digital monetary providers into their very own product providing by way of APIs.

After finishing its Collection C in June 2020, Solarisbank has efficiently migrated its full know-how stack to the Amazon Internet Providers Cloud and has additionally  moved all companions to its self-developed Core banking answer.

In doing so, Solarisbank has “set a brand new European benchmark by way of value effectivity, scalability and repair high quality,” the announcement famous. Lately, the agency introduced its official market entry in France, Italy and Spain, the place it would goal to offer native IBANs to its companions.

In accordance with Thomas Schlytter-Henrichen, Companion at Decisive Capital Administration, we’re within the strategy of experiencing a paradigm shift in banking, “the place clients anticipate monetary providers to adapt to their particular wants.” Thomas added that know-how is “the important thing to allow this transformation and Solarisbank’s highly effective Banking-as-a-Service platform positions it completely for this new banking period.” He additionally famous that they’re “impressed by the workforce and thrilled to work collectively on its mission.”

Solarisbank additionally introduced that it’s teaming up with Contis, a worthwhile European funds Fintech, “to turn into the undisputed pan-European Banking-as-a-Service chief.”

Established in 2008 by Fintech skilled Peter Cox, Contis has grown “to turn into one of the crucial complete Banking-as-a-Service platforms for funds in Europe.”

As talked about within the announcement, Contis is among the “true fintech trailblazers, with quite a few awards to its identify and a confirmed observe file of delivering disruptive know-how, securely with confirmed excessive reliability within the funds area.”

As famous within the launch, Solarisbank and Contis “share the identical imaginative and prescient and values and collectively we are going to spearhead the worldwide development of embedded finance.”

As confirmed within the announcement:

“Upon completion of the transaction, the mixed entity can be led by Solarisbank’s CEO, Dr. Roland Folz. Peter Cox will help the transition in his new position as Senior Advisor and shareholder.”

The discharge additionally talked about that “inclusive of this Collection D spherical, Solarisbank has raised greater than EUR 350 million since its founding in 2016.” Each the funding spherical and the transaction “can be topic to regulatory approval.”