HV Holtzbrinck leads €60m round for SolarisBank

The round also saw participation from existing investors Yabeo, SBI Group, ABN Amro Ventures, Global Brain, Hegus and Lakestar, which together contributed around half of the capital in the round.

Also participating were new investors Vulcan Capital, Samsung Catalyst Fund, Storm Ventures and Banco Bilbao Vizcaya Argentaria (BBVA).

The fresh capital will be used to expand SolarisBank's team and to strengthen its regulatory capital base, according to a statement.

New lead investor HV is currently investing from its seventh fund, which held a final close in January 2018 on €306m. The fund invests €500,000-5m in first-round investments, with up to €40m available in follow-on financing per company.

Previous funding
In March 2016, Finleap and Yabeo led a €12.1m seed round for SolarisBank.

Arvato Financial Solutions and SBI Group backed a €26.3m series-A round for the company in March 2017, alongside its existing investors.

In March 2018, ABN Amro Ventures and Lakestar led a €56.6m series-B round for SolarisBank, with participation from existing corporate investors Arvato and SIB.

Company
SolarisBank was founded in 2016 and is headquartered in Berlin. The banking platform allows companies to offer their own financial products and currently hosts 400,000 customer accounts. Its subsidiary, Solaris Digital Assets, also handles crypto-currency and other digital assets. It has recently added a Splitpay service that allows users to offer their customers flexible credit lines. The company employs 310 staff.

People
Solarisbank – Roland Folz (CEO).
HV Holtzbrinck Ventures – Barbod Namini (partner).

Advisers
Company – Deutsche Bank (corporate finance).

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• Topics
• Expansion
• DACH
• Financials
• Venture
• Germany
• Lakestar