Fully-licenced bank solarisBank has raked in €60m ($67.2m) in a Series C funding round to grow its team and expand its footprint globally.
The funding round is led by HV Holtzbrinck Ventures with participation from Vulcan Capital, Samsung Catalyst Fund and Storm Ventures.
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Existing investors like yabeo, BBVA, SBI, ABN AMRO Ventures, Global Brain, Hegus and Lakestar also participated in the funding round.
The latest funding round brings the total amount raised by the company to date to over €160m.
solarisBank will use the fresh capital to extend its product offerings and technology platform, strengthen its regulatory capital base, and foray into international markets.
solarisBank CEO Roland Folz said: “solarisBank is continuing its impressive growth and the current financing round will help us to expedite building a pan-European platform.
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By GlobalData“Our partners are continuously improving their offerings and expanding their reach with our strong financial tech products.”
Founded in 2016, solarisBank is a banking-as-a-service (BaaS) platform which offers API-accessible financial tech products tailored to the needs of the high-growth market for contextual banking.
solarisBank currently employs 310 people with 52 distinct nationalities. At present, it services over 400,000 accounts.
Recently, the bank expanded its product portfolio with digital banking and payment services like ‘Splitpay’, a post-purchase instalment product and decoupled debit cards.
