P+P advises solarisBank on Series C funding round for over EUR 60 million

The funding round was led by Holtzbrinck Ventures. Additional new investors in the Berlin-based banking-as-a-service provider included Vulcan Capital, Samsung Catalyst Fund and Storm Ventures. Existing investors contributed approximately half of the Series C investments, led by Yabeo and followed by BBVA, SBI Group, ABN Amro Ventures, Global Brain, Hegus and Lakestar.

The fintech has thereby received approximately 160 million Euros from investors in the last four years. According to media reports, the valuation of solarisBank is now 320 million Euros.

Since it was founded in March 2016, solarisBank has been one of the first finance technology companies with a full banking license. It operates a platform for banking-as-a-service services. The platform enables companies to offer regulatory-compliant financial services without having a banking license themselves. According to its own account at the end of the first half of 2020, solarisBank manages around 400,000 end customer accounts.

P+P Pöllath + Partners advised solarisBank on the funding round with the following team:

• Christian Tönies (partner, lead, M&A/VC, Munich/Berlin)
• Dr. Sebastian Gerlinger (counsel, M&A/VC, Munich/Berlin)
• Dr. Sebastian Käpplinger (partner, regulatory law, Frankfurt)
• Daniel Wiedmann (associated partner, antitrust law, Frankfurt)
• Dr. Philip Mostertz (senior associate, regulatory law, Berlin)
• Markus Döllner (associate, M&A/VC, Munich)

P+P regularly advises solarisBank on funding rounds and investments.