European embedded finance platform Solaris has raised €38 million in Series F funding to strengthen its governance and compliance. The funding will support the company’s growth and profitability goals as it continues to offer financial services to businesses through API integrations.
Facts
- Solaris has secured €38 million in Series F funding in the first close of its funding round, led by existing investors.
- Founded in 2015, Solaris is a Berlin-based embedded finance platform that enables businesses, including non-financial companies and fintech, to provide financial services to their customers via API integrations.
- In December 2022, Solaris refreshed its management board and implemented a new target operating model.
- Carsten Höltkemeyer was appointed as the CEO of Solaris as part of the management board shake-up, and Chloé Mayenobe was appointed as the chief operating officer (COO).
- Chloé Mayenobe will be leaving Solaris on 31 July, and the company has decided not to fill the position.
- Solaris has invested in the resilience of its platform, consistently achieved monthly targets, and secured the planned capital increase.
- Solaris plans to integrate Contis, a Banking-as-a-Service (BaaS) player it acquired, into its platform. The company aims to reduce complexities, focus on core products, and become a performance-driven company with sustainable profitability.
