Solarisbank said to be close to funding round and rise to unicorn status
According to a media report, the fintech is close to closing a €100 million funding round and would be valued at more than €1 billion with this investment.
Solarisbank wants to go public in 2022, before that another financing round will be completed, it was already said in April from the fintech's environment. The last part could now be implemented: As Finance Forward reported, Solarisbank is about to close a 100-million-euro round. This would give the fintech a valuation of over one billion euros and put it among the ranks of the Unicorns.
According to information from Finance Forward , the money will also be used to acquire a competitor of the same size as the fintech. It is not known which company it is, but it is said to be present in different markets than Solarisbank. Unlike other fintechs such as Trade Republic or Scalable Capital, Solarisbank is thus not focusing on organic growth of its own company.
Founded in 2016, the fintech operates a SaaS platform that it provides to businesses and other fintechs such as Bison or Trade Republic, allowing them to process their financial services. Solarisbank holds a license from Volksbank. Berliners now have over 400 employees. The last round of financing was a year ago, and investors have so far put a total of €160 million into the fintech.
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