Solaris, the German Banking-as-a-Service platform, has raised €140 million in its Series G funding round.

4 February 2025
Solaris, the German Banking-as-a-Service (BaaS) provider, has raised €140 million in a Series G funding round, with Japanese financial giant SBI Group leading the investment, alongside existing client Boerse Stuttgart Group. Several other strategic partners and investors also participated, providing equity-supportive measures, as reported by Finextra.

As part of the deal, SBI Group will acquire a majority stake in Solaris, marking a significant change in the company’s ownership. In 2021, Solaris was valued at $1.6 billion.

Based in Berlin, Solaris delivers a range of BaaS solutions, enabling companies to integrate financial services directly into their platforms. Their offerings include digital banking, payments, lending, and compliance solutions, allowing businesses to provide financial products without requiring a banking license.

The new funding will help Solaris sustain operations until it achieves profitability, while also bolstering its core capital base and accelerating growth in the market.

Over the past year, Solaris has undergone a significant restructuring, including raising €96 million in a Series F round in March 2023, and securing a €100 million financial guarantee to fulfill a contract with the German automobile association ADAC. However, it also sold its UK-based Engage business to Suits Me and reduced its workforce by a third, from 700 employees.

“We are excited to complete our two-year transformation journey with the successful Series G funding round,” said Carsten Höltkemeyer, CEO of Solaris. “This new capital will help us maintain operations while we reach profitability and strengthen our foundation to capture emerging market opportunities.”