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Solaris, top BaaS provider, secures €96m to boost tech platform.

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TLDR:

  • Solaris SE secures €96 million in Series F funding led by SBI Group and other existing investors.
  • Funding will be used to enhance product offerings, strengthen the company’s platform, and focus on regulatory compliance.

Solaris SE, a leading player in the BaaS industry, has successfully closed a €96 million Series F funding round, led by SBI Group and other existing investors. This milestone brings Solaris’s total funding to over €450 million, highlighting strong investor confidence in the company. Founded in 2015, Solaris utilizes a proprietary modular B2B technology stack and scalable licensing system to empower partners in delivering customized financial services.

The company, with banking and EMI licenses, operates across Europe and India with over 750 employees and reported net revenues of €130 million in 2022. The new funding will support strategic initiatives, such as onboarding the ADAC credit card program and enhancing core capital and platform resilience. Solaris CEO Carsten Höltkemeyer emphasizes the company’s commitment to delivering scalable financial products while focusing on regulatory compliance as a unique selling proposition.

Chairman of the Supervisory Board, Ramin Niroumand, commended Solaris’s transformation and successful business model in driving embedded finance in Europe. With a strong growth trajectory and robust investor confidence, Solaris seeks to continue its market leadership and build a new phase of sustainable, profitable growth. The funding round reflects a bright future for Solaris as it expands its tech platform and enhances partner offerings.

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