Tech EU reports that SBI Group and other current investors led this round, which exceeded €450 million in total capital and was a major turning point in Solaris's development. In addition to a substantial capital infusion, this investment round provides a financial guarantee with a maximum capital equivalent of €100 million.

Since its founding in 2015, Solaris has led the BaaS industry. The revolutionary strategy of the company is based on a scalable licensing mechanism and a proprietary modular B2B technology stack. With this strong base, Solaris can empower a diverse range of partners to deliver customized, customer-focused financial services, from huge, multinational non-financial organizations to innovative fintechs.

With its banking and EMI licenses, Solaris currently runs a large network that employs over 750 people in 10 different sites in Europe and India. The software giant's strong market position and successful operations were seen in its 2022 net revenues of €130 million.

The additional cash will be used for a number of tactical projects meant to strengthen Solaris's position in the market. One of these is the introduction of the credit card program from ADAC (Allgemeiner Deutscher Automobil-Club), which will greatly expand its range of products. The money will also be used to bolster the company's foundational assets and make platform resilience investments. This calculated use of resources demonstrates Solaris's dedication to provide its partners and customers with scalable and easily available financial products, such as credit cards, bank accounts, and lending solutions.

One noteworthy aspect of Solaris is its concentration on regulatory compliance, which is emphasized as a unique selling proposition (USP) by CEO Carsten Höltkemeyer. "Solaris has reached a critical turning point in our journey toward profitable, sustainable growth. The financing demonstrates our investors' strong belief in our company's evolution. 2024 marks the start of a promising new age for Solaris. Our USPs are meeting regulatory compliance requirements, improving our partners' product offerings, and delivering on our business priorities. Our staff is committed to maintaining and growing our market leadership, and for that I am proud. We will now work together to construct a new Solaris," Höltkemeyer declared.

Ramin Niroumand, the Chairman of Solaris' Supervisory Board, also offered his opinions: "Solaris has established a new industry standard since its founding, providing the fundamental framework that powers integrated finance in Europe. Carsten and his group have demonstrated the endurance of the Solaris business model while guiding the company through a difficult market. Investor trust in Solaris's future strategy is reaffirmed by the ADAC deal and the recent cash infusion, which demonstrate the company's effective transformation.

Prior to this Series F round, Solaris had raised more money than €450 million in total, indicating the company's excellent growth trajectory and the confidence of investors.