The German fintech also reports that it has obtained "a financial guarantee of up to €100 million capital equivalent" in addition to the fresh funding.

According to Solaris, it would further invest "in the resilience of its platform" and bring the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program on board with the additional money.

The announcement refutes rumors from the previous year that the company was having trouble raising the money needed to complete the agreement with ADAC.

The fresh funding round, according to Solaris CEO Carsten Höltkemeyer, demonstrates the fintech's dedication to improving its product offerings and "making regulatory compliance our USP."

Less than a year has passed since the company raised €38 million at the first close of its Series F round, when the funding was officially disclosed.

Established in 2015, Solaris facilitates companies to offer financial services to their clients by means of API integrations. At the moment, it employs around 750 people in ten sites throughout Europe and India.

The corporation reorganized its management board in December 2022 with the goal of "maintaining our growth, staying ahead of the curve, and becoming profitable at the same time."