Japan’s SBI Group and Boerse Stuttgart Group led the round that attracted the resources of further investors. In a previous round Solaris raised 96 million in equity with a 100 million warranty
Japanese SBI Group and Boerse Stuttgart Group led the investors that poured their resources in the 140 million euros worth Series G round of German scaleup fintech Solaris SE (fka Solarisbank), the developer of a proprietary embedded finance platform (see here the press release). Bloomberg reported that SBI invested 100 million for acquiring a 70% Solaris which received assistance from Perella Weinberg Partners.
In March 2024, the German scaleup closed a Series F round and raised 96 million in equity and warranty for up to 100 million (see here the press release). SBI led the investors. Solaris invested such proceeds in implementing the migration of cutting-edge credit card programme ADAC (Allgemeiner Deutscher Automobil-Club). In July 2023, Solaris raised 38 million from its shareholders (see here the press release) while in 2021 it closed a 190 million worth Series D round on the ground of an enterprise value of 1.4 billion. Decisive Capital Management, Pathway Capital Management, CNP (Groupe Frère), Ilavska Vuillermoz Capital, yabeo Capital, BBVA, Vulcan Capital, and HV Capita poured their resources in the deal (see here the press release). Solaris previously raised a further 160 million since its birth in 2016.
When Solaris announced the Series D round, it also made public its merger with UK fintech Contis (the owner of a Lithuanian licence for e-money) for consolidating its position of pan European Banking-as-a-Service player. In September 2024, In Solaris closed the majority of Cortis activities (see here the press release).
Carsten Höltkemeyer, ceo of Solaris, said: “Such Series G round marks the marks the completion of a two-year transformation process and provides the foundation for our growth. The fresh resources will support our operations towards profitability and accelerate our ability to seize market opportunities while building a strong capital base. I am deeply grateful to our investors for their invaluable confidence and shared ambition in continuing to lead the integrated finance market in Europe.”
Yoshitaka Kitao, Representative Director, Chairman, President & ceo of SBIHD, said: “Becoming a majority shareholder in Solaris is a natural step in our ongoing investment in the company. We look forward to supporting the realiation of the vision of Solaris, which is well positioned to enter the next phase of integrated finance in Europe grace to its cutting-edge technology and exceptional team.”
Matthias Voelkel, ceo of Boerse Stuttgart Group, said: “Solaris has been a partner in our fast-growing digital and crypto business for years. Investing in them allowed us to seize the opportunity to expand our strategic options and further promote our growth. We are pleased to do this together with SBI Group, another long-standing partner of the Boerse Stuttgart Group.”
