Solarisbank becomes a unicorn and swallows competitor
According to a media report, the Berlin-based start-up has raised 190 million euros in a financing round and now has a valuation of 1.4 billion euros.
Solarisbank has apparently achieved unicorn status. As Finance Forward reports, the fintech from Berlin has raised 190 million euros in a financing round. This brings the banking start-up's total valuation to 1.4 billion euros.
According to the report, Decisive Capital is leading the Series D financing round as an investor. The existing investors as well as Pathway Capital Management and the Ilavska Vuillermoz fund are also participating. The fintech is apparently using a large part of the money to take over its British competitor Contis. The next step is an IPO. Solarisbank is apparently planning to go public either via the traditional route or via a Spac.
Founded in 2016, the fintech operates a SaaS platform that it makes available to companies and other fintechs such as Bison and Trade Republic, enabling them to process their financial services. Solarisbank holds a license from Volksbank. Berliner now has over 400 employees. The last financing round was a year ago, and investors have invested a total of 160 million euros in the fintech to date.
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