Solarisbank raises €190 million in Series D; joins forces with Contis
By Megha Bhattacharya
Solarisbank AG, a European Banking-as-a-Service platform, announced that it has raised €190 million in an oversubscribed Series D funding round, valuing the company at €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.
“In the last 12 months, our passionate team has delivered against key milestones on our ambitious expansion journey. The funding is the result of their outstanding work and will further fuel our vision to create a world where financial services seamlessly sync with life,” says Dr. Roland Folz, CEO of Solarisbank.
Solarisbank also announced that it is joining forces with Contis, a European payments FinTech, to become the undisputed pan-European Banking-as-a-Service leader. 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.
“Contis is one of the true fintech trailblazers, with numerous awards to its name and a proven track record of delivering disruptive technology, securely with proven high reliability in the payments space. Having already become one of Europe’s fastest-growing companies over the last three years, this coming together brings our joint velocity to the next level. Solarisbank and Contis share the same vision and values and together we will spearhead the global trend of embedded finance,” says Peter Cox, Executive Chairman and Founder of Contis Group.
“The alliance of our companies follows a clear strategic rationale as the platforms complement each other perfectly. Together we will build an international powerhouse for Banking-as-a-Service. We are delighted to have won a group of new elite investors to accompany us on our future growth journey,” says Ramin Niroumand, Chairman of the Supervisory Board of Solarisbank.