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by Fintechnews Switzerland
March 20, 2024
Solaris introduced the signing of its Sequence F spherical led by SBI Group and different present traders.
The present spherical consists of EUR 96 million in extra capital and a monetary assure of as much as EUR 100 million capital equal. Solaris will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Membership) bank card program, strengthen its core capital and spend money on the resilience of its platform.
Carsten Höltkemeyer
“This can be a important milestone for Solaris on our path to sustainable, worthwhile development. The funding underlines the excessive stage of confidence our traders have within the transformation of our firm. 2024 heralds a brilliant new chapter for Solaris and we’re dedicated to delivering on our enterprise priorities, enhancing the product providing for our companions and making regulatory compliance our USP. I’m happy with our group, which is captivated with defending and increasing our market management. Collectively, we are going to now construct a brand new Solaris.”
Carsten Höltkemeyer, CEO of Solaris
The funding spherical was led by SBI Group, one among Solaris‘ early strategic traders, and can allow the supply of the ADAC migration. In September 2022, Solaris secured a long-term settlement to develop into ADAC’s co-branding bank card accomplice, issuing greater than 1.2 million bank cards going ahead. In July 2023, Solaris closed its first spherical of Sequence F funding at EUR 38 million, additionally led by present traders, with the funds getting used to strengthen governance and compliance and navigate the difficult market surroundings.
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