Solaris SE closes Series F financing round with 96 million euros

ADAC credit card program: Solaris SE secures funding to manage over 1.2 million cards - a milestone for the company

Berlin, March 19, 2024 - Solaris SE, Europe's leading embedded finance platform, today announced the closing of its Series F financing round. This round, led by SBI Group and other existing investors, has secured additional capital of EUR 96 million and a financial guarantee of up to EUR 100 million capital equivalent. The funds will be used to secure the credit card program of the Allgemeiner Deutscher Automobil-Club (ADAC), strengthen core capital and invest in the resilience of the platform.

Profitable growth

Carsten Höltkemeyer, CEO of Solaris, emphasized the importance of this milestone for the company on its path to sustainable and profitable growth. The financing demonstrates the investors' great confidence in Solaris' strategic transformation. The company plans to implement its priorities, optimize its product offering and establish regulatory compliance as a unique selling proposition. Höltkemeyer praised the dedicated team that is defending and expanding Solaris' market leadership.

1.2 million credit cards under management

The Series F financing round was led by the SBI Group, one of Solaris' first strategic investors. It enables the migration of the ADAC credit card program after Solaris secured a long-term contract as co-branding partner of ADAC in September 2022. In the future, Solaris will take over the management of over 1.2 million credit cards.

Ramin Niroumand, Chairman of the Supervisory Board of Solaris, highlighted the successful transformation of the company and emphasized the confidence of investors in Solaris' future strategy. The new capital increase and the ADAC portfolio are proof of this successful development.

Solaris was founded in 2015 and has established itself as an embedded finance platform in Europe. The modular B2B platform enables partner companies to offer customer-oriented financial services. The company employs over 750 people at ten locations in Europe and India and generated net sales of around 130 million euros in 2022.