Solid Raises $63M Series B for Embedded Fintech-as-a-Service Platform

Solid, previously known as Wise (rebranded to avoid confusion with the remittance company), closed a $63 million Series B funding round reported at the end of August 2022. The company provides an embedded fintech-as-a-service platform that allows businesses to integrate banking, card issuance, and payment capabilities into their own products through APIs. Solid's platform sits at the intersection of BaaS and embedded finance, acting as middleware between partner banks and the companies that want to offer financial products.

The funding is intended to accelerate product development and expand Solid's market reach. The round reflects strong investor interest in infrastructure layers that simplify the complexity of bank-fintech integrations. Financial details beyond the total raise were not fully disclosed.

Solid's model represents the growing trend of fintech middleware platforms that complement traditional BaaS sponsor banks by handling compliance, API orchestration, and program management.