Germany's Solaris Raises €96M in Series F Extension for BaaS Platform

Solaris SE closed a EUR 96 million Series F round on Mar 19, 2024, led by SBI Group and joined by other existing investors. The round also includes a financial guarantee of up to EUR 100 million capital equivalent. Solaris will use the funds to onboard the ADAC co-branding credit card program, which covers more than 1.2 million cards under a long-term agreement signed in Sep 2022.

The capital will also strengthen Solaris's core capital position and fund investment in platform resilience. In Jul 2023, Solaris had closed a first Series F tranche at EUR 38 million, also backed by existing investors. The company said it is entering a new phase focused on profitable growth across core verticals: cards, accounts and lending.