Solaris raises EUR 38 million in capital

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In the first close of its Series F equity financing round, embedded finance platform Solaris raised EUR 38 million.

The new funding, which was raised from current investors, comes after a period of testing for Solaris. The company last year changed its branding from its initial positioning as a neo bank to solaris bank. This was part of a larger organizational overhaul that also saw a management board shuffle under new CEO Carsten Höltkemeyer.

Net revenues for the company’s fiscal year ended at EUR 130 million, up 30% from the prior year, but at a loss of EUR  56 million. The new management team decided against the planned IPO for Q3 2022 in order to focus on responding to the altered market circumstances.

Read More: Solaris secures €38 million capital raise

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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