German fintech giant Solarisbank raised a $224M Series D at a $1.65B valuation. The company also acquired UK-based competitor Contis for an undisclosed price. Solarisbank offers a banking-as-a-service platform for clients to build their own banking products.
- Solarisbank generated $41M in revenue in 2020.
- In June 2020, it raised $67.5M for its Series C funding round, which valued it at $360M.
- The Series D round was led by Decisive Capital Management, Yabeo Capital, and Vulcan Capital.
- The company has 50 customers or “partners” (including American Express, Samsung, and Vivid) and covers roughly 2 million customer accounts.
- The Contis acquisition will help Solarisbank enter the U.K. market after expanding into Spain, France, and Italy last year.
- Contis has over 200 customers and also manages nearly $10B in payment processing annually.