Solaris SE, Europe’s leading embedded finance platform, today announced the signing of its Series F round led by SBI Group, Decisive Capital Management, Pathway Capital Management, CNP, Ilavska Vuillermoz Capital, yabeo Capital, BBVA, Vulcan Capital and HV Capital. The current round consists of EUR 96 million in additional capital and a financial guarantee of up to EUR 100 million capital equivalent. Solaris will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program, strengthen its core capital and invest in the resilience of its platform.
In September 2022, Solaris secured a long-term agreement to become ADAC’s co-branding credit card partner, issuing more than 1.2 million credit cards going forward. In July 2023, Solaris closed its first round of Series F funding at EUR 38 million, also led by existing investors, with the funds being used to strengthen governance and compliance and navigate the challenging market environment. In line with its 5-year strategy, Solaris is entering a new chapter dedicated to achieving profitable growth and placing a focus on core vertical markets. As international brands seek an entry point to begin their embedded finance journey, Solaris’ product offering will center on providing accessible and scalable products: cards, accounts and lending.
Since its inception, Solaris has set a new industry benchmark, laying a foundational infrastructure driving embedded finance in Europe. Carsten and his team are leading the company through a challenging market and have proven the resilience of the Solaris business model. The ADAC deal and fresh capital injection are proof of Solaris’s successful transformation, reaffirming the confidence of investors in the company’s future strategy” adds Ramin Niroumand, Chairman, Chairman of the Supervisory Board of Solaris.