Solaris, the German Banking-as-a-Service (BaaS) provider, has raised €96 million in a Series F, and a financial guarantee of up to €100 million to fulfill a significant credit card contract with Adac, a Munich-based motor association. The round, led by SBI Group, aims to support Solaris in executing the Adac migration and meeting regulatory capital requirements following a reported €56 million loss in fiscal year 2022. Solaris CEO, Carsten Höltkemeyer said the funding was critical for Solaris’ sustained growth, its commitment to enhancing product offerings, and regulatory compliance.
Solaris Raises €96 Million in Funding
