Solaris is a Berlin-based provider of an embedded finance and Banking-as-a-Service platform. Founded in 2015 and led by CEO Carsten Höltkemeyer, it offers a proprietary modular B2B tech stack and a scalable licensing system that enables partners from large global non-financial corporations to fintechs to deliver financial services. The company raised €140M in a Series G financing led by SBI Group and Boerse Stuttgart Group, with participation from a diverse group of investors and strategic partners. Solaris said it will use the funds to support its operations and accelerate its ability to seize market opportunities. This round follows a March 2024 Series F that raised €96m in equity and secured financial guarantees of up to €100m. Those prior funds were used to migrate the ADAC credit card program in September 2024 and to further strengthen the platform. Solaris provides white-label banking services as a banking-as-a-service (BaaS) platform. The fintech has faced industry challenges and recently implemented dramatic job cuts. Reports said the company was urgently seeking between €100m and €150m amid concerns it was running out of money. An Extraordinary General Meeting (EGM) was convened to consider urgent financing and, if necessary, a proposal to wind up the business. Solaris announced it has secured fresh funding and described the step as important for a long-term, sustainable financing solution. The company said it will finalise agreements with its investors in the coming days. Solaris is a Banking‑as‑a‑Service pioneer that developed a proprietary modular B2B tech stack and scalable licensing system for partners. Its platform enables large non‑financial companies and fintechs to offer customer‑centric financial products. Solaris is banking‑ and EMI‑licensed and focuses on cards, accounts and lending. The company employs more than 750 people across ten locations in Europe and India and reported net revenues of €130 million in 2022. Solaris plans to enhance partners' product offerings, make regulatory compliance a USP, and invest in platform resilience as it scales. Management frames the strategy around sustainable, profitable growth and extending market leadership. Solaris provides a banking-as-a-service/embedded finance platform used by customers including Samsung, American Express and Coinbase. Its platform exposes roughly 400 APIs across banking and card services, payments, lending, ID verification and digital currencies. The company rebranded from Solarisbank to Solaris in July 2022 and is working to integrate its Contis acquisition to fully exploit its product platform. Solaris reported €130 million in revenue for 2022, a 30% increase, but posted a €56 million loss that year and has been cutting costs to improve efficiency. Leadership changed with Carsten Höltkemeyer becoming CEO in April after Roland Folz stepped down; COO Chloé Mayenobe also left and the role will not be refilled. The company says first-half results show promise of profitability, while it focuses on simplifying operations and concentrating on core products. Solarisbank provides embedded banking via an API-first platform of about 180 APIs that power basic banking, cards, lending, payments and know‑your‑customer services for third parties. Its customers include Trade Republic, American Express, BP, Samsung and Vivid, and it serves roughly 50 partners covering about 2 million customer accounts. The company posted net revenues of €35 million in 2020 and has been growing at 40–60% annually; management says the combined entity will produce "triple‑digit euros" in revenue (hundreds of millions). Solarisbank holds banking licences for Europe and e‑money licences in Lithuania and the U.K., and runs its stack on AWS. Near‑term plans include expanding coverage across Europe, using the Contis acquisition to broaden European reach and making early moves into Asia, with no current plans to enter the U.S. The company says it could be in a position to go public next year if it chooses.

Total raised

$808M

Funding rounds

9

Latest round

Series G

Latest activity

Feb 2025