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solarisBank closes series B round at €56.6m

Martin Greenland | 16:58 Wednesday 14th March 2018

German fintech solarisBank has successfully raised €566m 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.

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