Solarisbank aims to be "IPO-ready" by mid-2022

Lisa Marie Münster Lisa Marie Münster | 19.10.2021

Solarisbank is scheduled to go public in the third quarter of 2022. Whether via Spac or the traditional route has not yet been finally clarified.

In July, Solarisbank became a unicorn through a 190-million-euro financing round, and even before that it was looking into a possible IPO. Now, chief executive Roland Folz is giving more concrete details to the Handelsblatt, that the fintech wants to go public in the third quarter of 2022: "We want to be IPO-ready by the middle of the year," Folz says.

Currently Solarisbank is valued at €1.4 billion, an IPO of a fintech of this size would be the first for Germany in a long time. Founded in 2016, Solarisbank has a full banking license from Bafin, serving many other startups that do business through the fintech. It employs more than 650 people, a number that increased mainly due to the acquisition of Contis. Before an IPO, the fintech would still have to meet some conditions, for example, the accounting standard would have to be changed to IFRS. Also, the banking licenses from Germany, England and Lithuania should be harmonized with each other, so that a uniform platform would be created.

In the meantime, rumours have been circulating that Solarisbank was considering going public via Spac, but the path now chosen is a classic IPO. However, nothing is certain yet: "Basically, the question is not decided, but the classic way via an IPO offers itself", says Folz in the Handelsblatt. "Then we have the listing in our own hands and are not dependent on third parties as with a Spac." In terms of location, Germany probably loses out to other countries; an IPO could more likely take place in Amsterdam or London.


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