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Solaris SE Lands €96M Series F Led by SBI Group

BuSolaris SE, a leading embedded finance platform, has just inked a major deal, securing a whopping €96 million
March 20, 2024

In a significant move today, Solaris SE, the German embedded finance platform, announced the finalization of its €96 million Series F round. Spearheaded by SBI Group alongside other existing investors, this infusion brings Solaris' total funding to over €450 million, solidifying its position in the fintech landscape.

Since its establishment in 2015, Solaris has been a trailblazer in the Banking-as-a-Service arena, introducing a pioneering modular B2B tech stack and a scalable licensing system. This innovative approach has empowered a diverse range of partners, from global non-financial corporations to forward-thinking fintech startups, to offer bespoke, customer-centric financial services.

With over 750 employees spread across ten locations in Europe and India, Solaris recorded net revenues of €130 million in 2022, showcasing its robust growth trajectory.

Carsten Höltkemeyer, CEO of Solaris, expressed his enthusiasm about the milestone, stating, "This funding is a testament to the confidence our investors have in Solaris's transformative journey. As we step into 2024, our focus remains on sustainable growth, bolstering our partners' offerings, and prioritizing regulatory compliance."

Ramin Niroumand, Chairman of the Supervisory Board of Solaris, commended the company's resilience in navigating challenging market conditions. He highlighted Solaris's pivotal role in driving embedded finance across Europe and emphasized the success of its business model.

Looking ahead, Solaris aims to enhance its product portfolio, with a particular focus on accessible and scalable solutions such as cards, accounts, and lending. The infusion of capital will facilitate Solaris's expansion plans, including the onboarding of the ADAC credit card program, strengthening core capital, and fortifying platform resilience.

With international brands increasingly venturing into embedded finance, Solaris is poised to play a pivotal role in shaping the future of financial services, offering tailored solutions that meet the evolving needs of its partners and customers.

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