Solaris, a Berlin, Germany-based technology company specializing in embedded finance solutions, has raised €96 million in a Series F funding round.
Investors
The round was led by SBI Group and supported by other existing investors.
SBI Group is a company that provides financial services in a wide range of categories, including securities, asset management, banking, and insurance. It also has a biotechnology-related business line that develops cosmetics, health foods, and drug discovery. The company was previously known as SoftBank Investment. It was founded in 1999 and is based in Tokyo, Japan.
Solaris' Use of Funds
The company will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program, strengthen its core capital, and invest in the resilience of its platform.
About Solaris
Founded in 2015, Solaris provides a Banking-as-a-Service platform that enables businesses to integrate digital banking, payment, and lending services into their products. Its proprietary modular B2B tech stack and scalable licensing system empower its partners – from large global non-financial companies to innovative fintechs – to offer unique, customer-centric financial services. Today, the banking and EMI-licensed tech company employs more than 750 people at ten locations in Europe and India. Their vision is to create a world where financial services seamlessly sync with life.
Funding Details
Company: Solaris SE
Raised: €96.0M
Round: Series F
Funding Month: March 2024
Lead Investors: SBI Group
Additional Investors:
Company Website: https://www.solarisgroup.com/
Software Category: Banking Platform
Source: https://newsroom.solarisgroup.com/235904-solaris-raises-eur-96-million-in-funding