back Back

FinTech Solaris closes $41m funding round

By Gloria Methri

July 11, 2023

  • API Integration
  • Contis
  • Embedded Finance
Share

Solaris, Embedded Finance, Europe, FinTechEuropean embedded finance platform Solaris has raised €38 million ($41.7m) in its Series F round, led by existing investors. Solaris plans to use the funds primarily to strengthen governance and compliance and lay the foundation for the company’s next phase of growth.

“Over the last few months, we have been working hard on our priorities. We invested in the resilience of our platform, we are consistently hitting our monthly targets, and we have now secured the planned capital increase. The strong commitment of our shareholders is a testament to our strategy and the dedication of our employees,” said Carsten Höltkemeyer, CEO of Solaris.

The company’s next milestone will be the integration of Contis in order to exploit the full potential of our technology and product platform. This will be accompanied by further reduction of complexities and focus on our core products.

In parallel, there are changes in the Solaris board. Chief Operating Officer Chloé Mayenobe has decided to take on new professional challenges and will leave the company as of July 31. The position will not be refilled.

“It has been a unique opportunity to be part of Solaris’ journey to become Europe’s leading embedded finance platform. I would like to thank all Solarians for providing a continuous energy that was contagious in carrying out my responsibilities,” said Mayenobe.

Solaris operates in a large addressable market with a compound annual growth rate of about 25% and a revenue pool in Europe of up to €35 billion by 2027. As the acceptance of embedded finance broadens, Solaris asserts its pole position in the FinTech space, tapping into established corporates and large ecosystems with best-in-class product offerings.

In recent months, several high-profile and international brands have joined Solaris’ platform, including the General German Automobile Club (ADAC), Paycell, and Jimdo.

Previous Article

July 11, 2023

SmartWealth launches investment services on the NBK mobile banking app

Read More
Next Article

July 11, 2023

Grow Finance & Pismo to issue credit card for SMEs in Australia

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 04, 2024

tell.money partners with Enfuce for PSD2-compliant open banking

Read More

December 03, 2024

BENEFIT & Tarabut launch open banking authentication solution in Bahrain

Read More

November 28, 2024

Black Friday may turn into ‘Fraud Day’ as scammers ramp up tactics

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More