German fintech solarisBank has successfully raised €56.6m in its series B funding round.
The Berlin-based banking platform received investment from current investors Arvato Financial Solutions and SBI Group and new investors BBVA, Visa, Lakestar and ABN AMRO’s Digital Impact Fund (DIF).
“With our banking platform concept, we are shaping the future of the financial services industry,” said Dr Roland Folz, CEO at solarisBank.
“Our innovative approach has convinced industry leaders from both the finance and technology sectors to utilise the series B round as an opportunity to be a part of our business model and growth story.
“I am thrilled and inspired by the potential for further co-operations in Germany, as well as in international markets, that we can approach together with these strong partners.”
The platform has nearly 60 corporate clients using its services and expects this to increase to over 100 by the end of the year.
“We are very pleased to have brought on board these first-class global investors from the payment, banking and financial investment sectors,” said Gerrit Seidel, chairman of the supervisory board and founding investor via yabeo capital.
“They will support solarisBank’s development into a truly global banking platform, while not affecting the company’s independence or neutrality.”
The bank raised €12.2m in its initial seed and €26.3m via its series A funding round, and seen the total funding raised reach more than €95m over the past two years.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
OakNorth posts £10.6m pre-tax profit
OakNorth has announced that it made a pre-tax profit of £10.6m last year.
Revolut launches disposable virtual cards
Mobile banking platform Revolut has announced the introduction of a disposable virtual card feature to its premium service.
Masthaven teams up with Intrinsic Financial Services
Masthaven has announced a new partnership with Intrinsic Financial Services as the bank looks to enable more brokers to access its range of residential mortgages.
Cambridge & Counties refinances Oxfordshire nursery
Cambridge & Counties has refinanced an Oxfordshire nursery, which is creating 50% more places for local children.
How important are brokers in the specialist banking market?
Brokers are an important channel for newly launched banks, a number of industry professionals have claimed.
BFC Bank enters UK market
BFC Bank has launched into the UK banking market offering financial services to UK SMEs.
Liam Fox launches GREAT Innovation in Action Awards
International trade secretary Liam Fox has launched the GREAT Innovation in Action Awards to find the best partnerships between UK and Asia-Pacific companies.
Teachers Building Society names new board of directors chair
Teachers Building Society has named Julie Nicholson as the new chair of its board of directors.
Church of England introduces contactless payments
The Church of England has introduced contactless, virtual terminal and SMS mobile payments to over 16,000 churches, cathedrals and religious sites across England.
FIBA workshops to feature live deal room
The Financial Intermediary & Broker Association (FIBA) has announced that its upcoming regional workshops will give brokers the chance to interact with partner lenders in a live deal room.