Solarisbank AG: Series D over 190 million Euro advised by PÖLLATH

Munich — Sola­ris­bank AG has raised a further 190 million euros in its largest finan­cing round to date. The valua­tion of the FinTech, which was foun­ded in 2016, now stands at €1.4 billion. Sola­ris­bank thus joins the ranks of the so-called unicorns. At the same time, the company acqui­res the British compe­ti­tor Contis. POELLATH also advi­sed Sola­ris­bank AG on the Series D finan­cing round of 190 million euros, as it did on the earlier rounds.

The round was led by Decisive Capi­tal Manage­ment, with support from growth inves­tors inclu­ding Pathway Capi­tal Manage­ment, CNP (Groupe Frère) and Ilavska Vuil­ler­moz Capi­tal. Exis­ting inves­tors yabeo, BBVA, Vulcan Capi­tal and HV Capi­tal also parti­ci­pa­ted in the finan­cing round. With the current round, the total volume of capi­tal raised amounts to 350 million euros.

More than half of the fresh capi­tal will go to the Contis acqui­si­tion, accor­ding to Sola­ris­bank. The acqui­si­tion is expec­ted to be comple­ted within the next three months. The acqui­si­tion of Contis enables expan­sion into the UK, which had previously been hampe­red by Brexit. The Contis site and jobs are to be retai­ned after the takeover.

Like Sola­ris­bank, the British company Contis also offers banking-as-a-service services, but prima­rily with a focus on payment card issu­ance and processing.

Sola­ris­bank is Europe’s leading banking-as-a-service plat­form. As a tech­no­logy company with a full German banking license, Sola­ris­bank enables other compa­nies to offer their own finan­cial services. Through APIs, part­ners inte­grate Solarisbank’s modu­lar finan­cial services directly into their own product offe­rings. In Germany, for exam­ple, the Samsung Pay payment system of the South Korean tech­no­logy group Samsung runs on the Sola­ris­bank platform.

Consul­tant Sola­ris­bank: POELLATH

Cris­tian Toenies, LL.M. Eur. (Part­ner, Lead Part­ner, M&A/VC, Munich/Berlin)
Dr. Sebas­tian Käpplin­ger, LL.M. (Penn State), (Part­ner, Regu­la­tory Law, Frankfurt)
Dr. Sebas­tian Gerlin­ger, LL.M. (Coun­sel, Lead Part­ner, M&A/VC, Munich/Berlin)
Markus Döll­ner (Senior Asso­ciate, M&A/VC, Munich)
Leonard Pietsch (Asso­ciate, M&A/VC, Munich)

POELLATH has been regu­larly advi­sing Sola­ris­bank on finan­cing rounds since its foun­da­tion in 2016.