BaaS Leader Solaris Raises €96M Series F to Expand Platform

Solaris SE, a leading European Banking-as-a-Service provider, announced the completion of a €96 million Series F funding round on March 20, 2024. The round was led by SBI Group with participation from existing investors, bringing the company's total funding to over €450 million. The fresh capital will be deployed to strengthen Solaris's core capital base, invest in platform resilience and reliability, and support the onboarding of the ADAC credit card program.

Solaris operates a proprietary modular B2B technology stack that enables partners to deliver embedded financial services spanning cards, accounts, and lending solutions. The investment signals continued investor confidence in the European BaaS model despite regulatory scrutiny of the sector. The funding positions Solaris to scale its partner ecosystem and deepen its embedded finance capabilities across the continent.