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.
Solaris reported a €56 million loss for fiscal year 2022. The company last raised €38 million in July last year in its first round of Series F funding, but needed to raise an additional €100 million in funding as part of an upfront payment to Adac and to meet regulatory capital requrements for taking on the motor association’s €500 million loan book.
“We are happy to announce that we re-invested EUR 3m into Solaris, Europe’s leading embedded finance platform, in a EUR 96m round led by SBI Group. The investment is part of our FinTech fund’s co-investment vehicle Ilavska Vuillermoz IX SCS. The current round consists of EUR 96 million in additional capital and a financial guarantee of up to EUR 100 million capital equivalent” says Laurent Hengesch, founding Partner of Ilavska Vuillermoz Capital.
