Solarisbank raises EUR 190 mln in Series D and joins forces with Contis

Tuesday 27 July 2021 08:04 CET | News

Solarisbank, the European Banking-as-a-Service platform, has raised EUR 190 million in an oversubscribed Series D funding round, valuing the company at EUR 1.4 billion. 

The round was led by Decisive Capital Management, with support from growth investors, including Pathway Capital Management, CNP (Groupe Frère) and Ilavska Vuillermoz Capital. Existing investors led by yabeo Capital, alongside BBVA, Vulcan Capital and HV Capital, also participated in the round with significant additional investments.

Solarisbank drives the trend of embedded finance by enabling both global brands and fast-growing fintechs to integrate financial services into their own product offering via APIs. Since its Series C funding in June 2020, Solarisbank migrated its full tech stack to the AWS cloud and moved all partners to its entirely self-developed core banking system. Recently, the company announced its official market entry in France, Italy, and Spain, where it will offer local IBANs to its partners.

Solarisbank also announced that it is joining forces with Contis, a European payments fintech. Founded in 2008 by fintech veteran Peter Cox, Contis has grown to become one of the most comprehensive Banking-as-a-Service platforms for payments in Europe. 

Upon completion of the transaction, the combined entity will be led by Solarisbank’s CEO, Dr. Roland Folz. Peter Cox will support the transition in his new role as Senior Advisor and shareholder.

As is customary, both the funding round and the transaction will be subject to regulatory approval.

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Keywords: BaaS, Solarisbank, fintech, Contis, embedded finance
Categories: Banking & Fintech
Countries: Europe
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Banking & Fintech

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