<div>
 <ul>
 <li>
 
 Solaris, a banking-as-a-service (BaaS) infrastructure provider, has raised EUR 38 million (USD 41.8 million) in Series F funding from existing investors such as BBVA, finleap, Lakestar, SBI, and HV Capital, among others. The round values the company at USD 1.6 billion (similar to its 
 <a href="https://sp-edge.com/updates/4478">
 valuation in July 2021
 </a>
 ) and brings its total funds to ~EUR 423 million (~USD 467 million).
 
 </li>
 <li>
 
 The funds will be invested in strengthening governance and compliance to develop and expand the company further.&nbsp;
 
 </li>
 <li>
 
 Solaris&rsquo; net revenues reportedly grew 30% YoY in 2022 to reach EUR 130 million (USD 143.3 million); however, it was yet to turn profitable (having experienced a EUR 56 million [USD 61.8 million] loss). Meanwhile, the platform has expanded to cover ~400 different APIs across several banking solution categories from ~180 APIs in 2021.&nbsp;
 
 </li>
 <li>
 
 Along with the funding, the company also announced the departure of COO Chlo&eacute; Mayenobe as of July 31; reportedly, the position will not be refilled.&nbsp;
 
 </li>
 <li>
 
 Analyst QuickTake: 
 Solaris joins several other BaaS infrastructure providers across the globe that have raised funds in the past few months. This includes 
 <a href="https://sp-edge.com/updates/19186">
 Griffin
 </a>
 and 
 <a href="https://sp-edge.com/updates/19102">
 Allison FinTech
 </a>
 in June and 
 <a href="https://sp-edge.com/updates/18884">
 Nymbus
 </a>
 in May.&nbsp;
 
 </li>
 </ul>
 
 
</div>

<div>
 
 <a href="https://newsroom.solarisgroup.com/227920-solaris-closes-eur-38-million-funding-round">
 Press release
 </a>
 
 
 <a href="https://techcrunch.com/2023/07/11/solaris-embedded-finance-42-million/">
 TechCrunch
 </a>
 
 
 <a href="https://www.finsmes.com/2023/07/solaris-closes-e38m-funding.html">
 FinSMEs
 </a>
 
 
 <a href="https://www.eu-startups.com/2023/07/berlin-based-fintech-solaris-closes-e38-million-series-f-with-profitability-as-main-goal/">
 EU-Startups
 </a>
 
 
 
 
 
 
</div>

All Updates

Solaris raises EUR 38 million in Series F funding; announces departure of COO

Solarisbank launches security brokerage tools with fina

Solarisbank partners with barcode-based infrastructure provider viafintech

Solarisbank raises EUR 190 million in Series D funding; acquires Contis