Solaris BaaS Expansion: Secures €96m Fresh Funding to Revolutionize Tech Platform

• Solaris SE secures €96 million in Series F funding to expand its BaaS platform, with total funding now exceeding €450 million.
• The funding round, led by SBI Group and existing investors, includes a financial guarantee of up to €100 million in capital equivalent.
• Solaris operates with banking and EMI licenses across Europe and India, employing over 750 individuals and generating €130 million in net revenues in 2022.
• Strategic initiatives for the new funds include onboarding the ADAC credit card program and enhancing regulatory compliance as a unique selling proposition.
• CEO Carsten Höltkemeyer and Chairman Ramin Niroumand express confidence in Solaris’s growth trajectory and market leadership, highlighting the company’s successful transformation and strong investor backing.

Solaris BaaS Expansion: A €96 Million Boost

Solaris SE, a leading player in the BaaS industry, has recently secured a significant milestone by closing a €96 million Series F funding round. This round, as reported by Tech EU, was spearheaded by SBI Group in collaboration with other existing investors. The total funding for Solaris now exceeds a remarkable €450 million, showcasing the strong investor confidence in the company’s growth trajectory.

Solaris SE: A Trailblazer in the BaaS Market

Established in 2015, Solaris SE has been a pioneer in the BaaS market with its innovative approach. The company’s success is attributed to its proprietary modular B2B technology stack and a scalable licensing system. This foundation has enabled Solaris to cater to a diverse range of partners, from global non-financial corporations to cutting-edge fintech companies, by offering tailored financial services. With banking and EMI licenses in place, Solaris currently operates across ten locations in Europe and India, boasting a workforce of over 750 employees.

Strategic Initiatives and Market Positioning

The recent infusion of €96 million in funding is earmarked for strategic initiatives aimed at enhancing Solaris’s market position. One of the key initiatives includes the integration of the ADAC credit card program, a move that is set to enrich the company’s product portfolio. Furthermore, the capital injection will be utilized to fortify Solaris’s core capital and enhance the resilience of its platform. By prioritizing regulatory compliance, Solaris aims to differentiate itself in the market and deliver scalable financial products such as cards, accounts, and lending solutions to its partners and clients.

Related Video

Published on: November 27, 2020 Description: Welcome to our very first meetup event where we exchange ideas on (fin)tech and product topics! "How would a bank look like if it ...

Solarisbank Talks: "Behind the Bank" #1 - unveiling Solarisbank's core banking system

Leadership Vision and Investor Confidence

Carsten Höltkemeyer, the CEO of Solaris, expressed his optimism about the company’s future, stating, “This is a significant milestone for Solaris on our path to sustainable, profitable growth. The funding underlines the high level of confidence our investors have in the transformation of our company.” Ramin Niroumand, Chairman of the Supervisory Board of Solaris, commended the company’s leadership, highlighting Solaris’s pivotal role in driving embedded finance in Europe. The successful closure of the Series F funding round and the ADAC partnership serve as testaments to Solaris’s resilient business model and future strategy.

Solaris’s recent funding infusion of €96 million marks a pivotal moment in the company’s journey towards expanding its tech platform and solidifying its position as a frontrunner in the BaaS industry. With a strong focus on innovation, regulatory compliance, and strategic partnerships, Solaris is poised to continue its growth trajectory and deliver cutting-edge financial solutions to its partners and clients.