Solarisbank becomes a unicorn and swallows competitor

The Berlin-based start-up has raised €190 million in a funding round, according to a media report, and now reaches a valuation of €1.4 billion.

Solarisbank has apparently reached Unicorn status. As Finance Forward reported, the fintech from Berlin was able to raise 190 million euros in a financing round. This brings the banking start-up's total valuation to €1.4 billion.

Decisive Capital is leading the Series D funding round as an investor, according to the report. Existing backers are also participating, as well as Pathway Capital Management and fund Ilavska Vuillermoz. The fintech is apparently using much of the money to acquire UK competitor Contis. The next step is an IPO. Solarisbank is apparently planning to jump onto the trading floor either via the traditional route or via a spac.

Founded in 2016, the fintech operates a SaaS platform that it provides to businesses and other fintechs such as Bison and Trade Republic, allowing them to transact 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 had so far put a total of 160 million euros into the fintech.