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- Solaris
Solaris Revenue, Valuation, Funding & Investors
Solaris is valued at $1.8B as of July 2023. Solaris revenue was $116M, as disclosed with its July 2021 round.
Last Solaris valuation
$1.8B
Series F · Jul 2023
Last Solaris funding round
$145M
Series G · Feb 2025
Solaris revenue
$116M
Series D · Jul 2021
Key investors in Solaris
SBI Holdings
Yabeo
Lakestar
BBVA
HV Capital
Vulcan Capital
About Solaris
Solaris is a Berlin-based Banking-as-a-Service platform holding a full German banking license. The company enables partners to embed modular services like digital accounts, payment cards, KYC, lending, and crypto custody via APIs. Backed by investors including BBVA, Visa, and Lakestar, Solaris powers financial products for fintechs and brands across Europe.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Revenue
$116M (Jul 2021)
Valuation
$1.8B (Jul 2023)
Solaris Valuation
Solaris is currently valued at $1.8B, based on its Series F in July 2023. Read the announcement ↗
The $42M round included Samsung Catalyst Fund and Lakestar.
Solaris' valuation has grown 4.9x from $360M at its Series C in June 2020 to $1.8B in July 2023, across 3 priced rounds.
Solaris valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2023 | Series F | $1.8B | - |
| Jul 2021 | Series D | $1.7B | 14.3x |
| Jun 2020 | Series C | $360M | 8.9x |
Solaris Revenue
Solaris' latest recorded revenue is $116M, as of its Series D in July 2021. At a $1.7B valuation, that implies a 14.3x revenue multiple.
Revenue grew from $40M in June 2020 to $116M in July 2021, while the revenue multiple moved from 8.9x to 14.3x.
Solaris revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2021 | $116M | $1.7B | 14.3x | Series D |
| Jun 2020 | $40M | $360M | 8.9x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Solaris Funding History
Solaris has raised a total of $699M across 9 funding rounds.
Solaris' first fundraising round was a $14M seed round in March 2016. The most recent completed round was a $145M Series G in February 2025.
Solaris funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2025 | Series G | Börse Stuttgart group (lead); SBI Holdings (lead) | $145M | - | Solaris SE, a Berlin-based European embedded finance platform and Banking-as-a-Service (BaaS) provider, secured a €140 million Series G funding round on February 3, 2025, led by SBI Group and Börse Stuttgart Group, with additional contributions from investors and strategic partners. SBI Group acquired a majority stake, becoming the majority shareholder and planning to make Solaris a consolidated subsidiary to maximize synergies in digital banking, payments, lending, and compliance solutions. The funding follows a €96 million Series F round in March 2024, aimed at supporting operations like the ADAC credit card program migration. The capital is designated to sustain operations until profitability, strengthen the core capital base, and pursue market opportunities amid challenges including regulatory issues with BaFin, asset write-downs, and integration expenses. Börse Stuttgart Group, a key partner in digital and crypto assets, participated alongside SBI, which has backed Solaris since 2017. This investment marks a strategic shift, with SBI Ventures Two acquiring shares via third-party allotment, enhancing Solaris's resilience and growth in the BaaS sector. |
| Mar 2024 | Series F | SBI Holdings (lead) | $63M | - | Solaris SE is Germany's leading embedded finance platform, providing banking-as-a-service infrastructure to financial institutions and fintechs. The company operates a proprietary platform enabling clients to embed financial services into their own offerings, with a focus on credit card programs and digital banking solutions. In March 2024, Solaris closed its Series F funding round, raising €96 million in equity capital along with a financial guarantee of up to €100 million from existing investors led by SBI Group. The proceeds were designated for onboarding the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program—a landmark partnership announced in September 2022 to issue more than 1.2 million co-branded credit cards—and strengthening the platform's capital base and resilience. This March 2024 round followed a July 2023 tranche of €38 million also led by existing investors, which was used to strengthen governance and compliance during a challenging market environment. The company has since raised additional capital; in February 2025, Solaris secured a €140 million Series G round co-led by SBI Group and Börse Stuttgart Group, with SBI acquiring a majority stake exceeding 70%, marking a significant shift toward profitability and strategic consolidation under Japanese financial backing. |
| Jul 2023 | Series F | Samsung Catalyst Fund; Lakestar | $42M | $1.8B | - |
| Jan 2022 | Series E | - | $45M | - | Solaris is a Berlin-based embedded finance platform, previously known as Solarisbank, offering banking-as-a-service (BaaS) solutions including over 400 APIs for banking, payments, lending, ID verification, and digital currencies to partners like Samsung, American Express, Coinbase, and ADAC. Founded in 2015, it enables businesses to integrate financial services via APIs and has expanded to over 750 employees across 10 locations in Europe and India, with total funding exceeding $441 million from investors including BBVA, Lakestar, SBI, HV Capital, Visa, and Samsung. For fiscal year 2022, Solaris reported net revenues of €130 million, reflecting 30% year-over-year growth, but incurred a €56 million loss amid challenging market conditions and regulatory scrutiny from BaFin over risk management, money laundering prevention, and late suspicious activity reports, resulting in a €6.5 million fine. The company implemented measures for profitability, with 2023 half-year results indicating a scalable model capable of profitable operations. Solaris operates in a €35 billion European embedded finance market projected to grow at 25% CAGR through 2027. Subsequent developments include the full Series F closure in 2024 with an additional €96 million (total €134 million Series F including financial guarantees up to €100 million) to support ADAC credit card onboarding, platform resilience, and regulatory compliance. Solaris merged with Contis to enhance its technology platform and focused on core products amid transformation efforts. |
| Jul 2021 | Series D | Decisive (lead); Yabeo; FJ Labs; Ilavska Vuillermoz Capital; Compagnie Nationale a Portefeuille; BBVA; Vulcan Capital; Pathway Capital Management; Stableton Financial; HV Capital | $226M | $1.7B | Solaris is Europe's leading embedded finance platform, providing Banking-as-a-Service (BaaS) through smart APIs that enable partners to integrate compliant financial services into their offerings. Headquartered in Berlin with over 750 employees across eight locations in Europe and India, the company focuses on embedded finance solutions. In 2021, Solaris reported combined net revenues exceeding 100 million euros, specifically EUR 101 million, marking over 90% year-on-year growth and surpassing prior targets. This positioned the company for international expansion, including partnerships like with Contis to operate in major European markets. Post-round, Solaris emphasized profitability and resilience amid market challenges, as stated by Group CEO Roland Folz. The 2021 annual report highlights strategic shifts toward sustainable growth, partner portfolio optimization, de-risking, and adjusted expansion plans for 2022. |
| Jun 2020 | Series C | HV Capital (lead); Yabeo (lead); Fuse Capital; Global Brain Corporation; ABN AMRO Ventures; SBI Holdings; Samsung Catalyst Fund; Storm Ventures; BBVA; Vulcan Capital; Lakestar | $67M | $360M | Solaris, the Berlin-based banking-as-a-service platform then trading as solarisBank, raised a EUR 60 million Series C round announced on 30 June 2020. HV Holtzbrinck Ventures led the round, with new investors Vulcan Capital, Samsung Catalyst Fund and Storm Ventures participating. Around half of the capital came from existing shareholders, led by founding investor yabeo alongside BBVA, SBI Group, ABN AMRO Ventures, Global Brain, Hegus and Lakestar. Media reports put the post-round valuation at about EUR 320 million. The company said the funds would go to product and technology development, hiring, international expansion and its regulatory capital base. Solaris was founded in March 2016, holds a full German banking licence and offers API-accessible financial products to fintechs and established brands; its revenues had doubled each year since 2017. |
| Mar 2018 | Series B | BBVA (lead); ABN AMRO Ventures; SBI Holdings; Arvato Bertelsmann; Visa; Lakestar | $70M | - | Solarisbank, a Berlin-based Banking-as-a-Service (BaaS) platform founded in March 2016 by Finleap, closed a €56.6 million Series B funding round on March 7, 2018, matching the specified investors including lead BBVA (Banco Bilbao Vizcaya Argentaria), Visa, Lakestar, ABN AMRO Ventures (Digital Impact Fund), Arvato Bertelsmann (Arvato Financial Solutions), and SBI Group. Finleap remained the largest shareholder at about 30%, with BBVA as the second largest below that stake, and others under 10%. The platform holds a full banking license, enabling B2B2C services where corporate clients (nearly 60 at the time) offer financial products powered by Solarisbank's modular technology for payments, lending, and more, active in seven countries with plans to exceed 100 clients by year-end. The 2018 investment positioned Solarisbank to expand its low-cost, low-risk banking rails for fintechs and corporates avoiding full builds. BBVA's involvement reflects strategic fintech bets, following their UK Atom Bank investment, amid Solarisbank's growth trajectory toward pan-European BaaS dominance, later acquiring Contis and launching in Spain, France, and Italy by 2021. |
| Mar 2017 | Series A | Arvato Bertelsmann (lead); Yabeo; UniCredit; SBI Holdings; finleap; Nexenai Capital | $28M | - | Solaris, then known as solarisBank, is a Berlin-based banking platform founded in 2016 that provides Banking-as-a-Service (BaaS) solutions, enabling companies to integrate financial services like payments and lending without a banking license. solarisBank operated in Germany and five other EU countries by early 2017, positioning itself as a fintech innovator with a full banking license to power embedded finance. In March 2017, it raised EUR 26.3 million in a Series A funding round led by Arvato Financial Solutions (a Bertelsmann subsidiary), with participation from SBI Group, and existing seed investors FinLeap, Hegus, and yabeo Capital. The funds were intended to develop the core platform and onboard initial clients, supporting international rollout including into Asia. The company appointed new senior management, including Gerrit Seidel as Chairman of the Supervisory Board and Roland Folz as CEO. Subsequent rounds included a Series B in March 2018 raising EUR 56.6 million from BBVA, Visa, Lakestar, ABN AMRO DIF, and reinvestments by Arvato and SBI, followed by later financings up to a Series G in 2025. |
| Mar 2016 | Seed | Yabeo; finleap | $14M | - | Solaris, then trading as solarisBank, is a Berlin-based banking platform that was started in 2015 inside the fintech company builder Finleap and launched in March 2016 after obtaining its banking license. The seed round at launch was funded by Finleap, Hegus and Yabeo Capital, who later took part in the 2017 Series A as existing investors. The company provides Banking-as-a-Service through APIs, allowing fintechs and other companies to offer banking, payments and lending without holding their own license. Gerrit Seidel of yabeo Capital, a former CEO of SOFORT Bank and chairman of Klarna management, helped initiate the bank and later became chairman of its supervisory board. The seed capital supported the build-out of the platform and the onboarding of its first corporate clients. |
Who has invested in Solaris?
23 investors have backed Solaris across its funding rounds, including SBI Holdings, Yabeo, Lakestar, BBVA, HV Capital and Vulcan Capital.
Lead investors include Börse Stuttgart group, SBI Holdings, Decisive, HV Capital, Yabeo and 2 other investors.
Solaris Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Mar 2017 | ||
| 4 | Lead | Mar 2016 | ||
| 3 | Lead | Mar 2018 | ||
| 3 | Participant | Mar 2018 | ||
| 2 | Participant | Mar 2018 | ||
| 2 | Lead | Mar 2017 | ||
| 2 | Participant | Jun 2020 | ||
| 2 | Participant | Jun 2020 | ||
| 2 | Participant | Mar 2016 | ||
| 2 | Lead | Jun 2020 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Participant | Jun 2020 | ||
| 1 | Lead | Jul 2021 | ||
This data is available for Pro users. Sign up to see all 23 Solaris investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Solaris
Solaris has acquired 1 company to date.
Last acquisition by Solaris was on July 27th 2021. Solaris acquired Contis Group for undisclosed valuation.
Latest Acquisitions by Solaris
| Description | Contis Group is a Manchester-headquartered Banking-as-a-Service platform powering accounts, cards, and payments across Europe. The modular API suite supports fintechs, insurers, and payroll firms with Faster Payments, SEPA, and white-label apps achieving 99.99% uptime. Clients include Revolut Business and Wagestream, processing billions in transactions annually under PCI DSS compliance. Founded in 2007, Contis operates from UK and Lithuania hubs. |
| HQ Country | |
| HQ City | London |
| Deal Date | 27 Jul 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Solaris acquisitions and their M&A valuation multiples. Start Free Trial | |
Solaris Competitors
Solaris competitors include listed companies like Marqeta, Fawry, dLocal and Paymentus, and private ones like Lithic and Highnote.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $625M | $14M | $1.9B | 1.7x | ||
| Publicly listed | $155M | $68M | $960M | 4.2x | ||
| Private | - | - | $800M | - | ||
| Publicly listed | $1.1B | $229M | $3.9B | 2.0x | ||
| Private | - | - | $750M | - | ||
| Publicly listed | $1.2B | $117M | $4.4B | 2.7x |
Solaris Public Comps
Solaris is still privately-owned, but its public comps include StoneCo, Computer Age Management Services, Marqeta, Evertec, Alkami Technology, eFinance, Isracard, Optasia, Fawry and Moneyview.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.5B | $914M | 1.2x | 1.1x | 3.3x | 2.0x | |||
| $160M | $75M | 10.2x | 9.5x | 21.7x | 20.8x | |||
| $625M | $14M | 1.9x | 1.7x | 86.7x | 8.6x | |||
| $932M | $330M | 3.2x | 2.8x | 9.2x | 7.2x | |||
| $444M | ($27M) | 3.6x | 3.1x | (59.9x) | 17.4x | |||
| $121M | $63M | 11.3x | - | 21.8x | - | |||
| $1.2B | $46M | 2.0x | - | 50.2x | - | |||
| $265M | $79M | 4.5x | 3.6x | 15.1x | 10.3x | |||
This data is available for Pro users. Sign up to see all Solaris competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Solaris
| When was Solaris founded? | Solaris was founded in 2015. |
| Where is Solaris headquartered? | Solaris is headquartered in Berlin, Germany. |
| Is Solaris publicly listed? | No, Solaris is a private, VC-backed company. |
| What is Solaris' valuation? | Solaris was last valued at $1.8B in its Series F in July 2023. |
| How much funding has Solaris raised? | Solaris has raised $699M across 9 funding rounds. |
| What was Solaris' last funding round? | Solaris' last funding round was a $145M Series G in February 2025, led by Börse Stuttgart group and SBI Holdings. |
| Who are Solaris' investors? | Solaris' investors include SBI Holdings, Yabeo, BBVA, Lakestar, ABN AMRO Ventures, Arvato Bertelsmann, Samsung Catalyst Fund, Vulcan Capital, finleap, HV Capital and 13 others. |
| What is Solaris' revenue? | Solaris' latest recorded revenue is $116M (July 2021). |
| What is Solaris' revenue multiple? | Solaris' latest valuation implies a 14.3x revenue multiple ($1.7B valuation on $116M of revenue). |
| Which companies are comparable to Solaris? | Companies comparable to Solaris include Marqeta, Fawry, Lithic, dLocal, Highnote and Paymentus. |
| How many companies has Solaris acquired? | Solaris has acquired 1 company, including Contis Group. |
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