22 February 2017
Visit dh.com

Exclusive: SolarisBank eyes EUR30m in Series B funding round

15 February 2017  |  6845 views  |  0 cash

German Banking-as-a-Platform (BaaP) startup solarisBank is in the process of raising EUR30 million in a Series B funding round as it gears up to go live with a host of fintech firm partners, Finextra understands.

Founded in 2015 by Marko Wenthin, formerly of Deutsche Bank and Andreas Bittner, an ex-MD at core banking supplier Avaloq, solarisBank provides a set of plug-and-play APIs to power banking services for fintech startups.

Last year the firm received a pan-European banking license and plans to us the new money - which according to a source comes from German and UK VCs - to expand its geographic reach, targeting fintech companies across Europe.

In the meantime, Finextra understands that several German players have already signed on with solarisBank and will go live in the coming months. They are: P2P payments players Cash Link and Cringle; P2P lender Lensdstar; a self-styled bank for freelancers called Kontist; and a provider of banking services to SMEs called Penta.

In a statement to Finextra, solarisBank spokesman Philipp Blankenagle, says: "we cannot confirm these details. We are in an ongoing process, of which we're not commenting on at this point in time."

While not denying the substance of the rumours, he adds: "The information currently being spread is not correct."

SolarisBank emerged from the FinLeap startup platform but has quickly developed into a major operation of its own, employing nearly 100 staffers. In October it scored a major coup by inking a strategic agreement with MasterCard to use the card scheme's global infrastructure to develop new payments modules for its digital startups.

Both companies have agreed to collaborate on the development of banking modules for the solarisBank platform. In a first step, the Debit MasterCard - combining a debit card and credit card in a single product - is being brought to the solarisBank platform.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SolarisBank to develop new banking modules with MasterCard

SolarisBank to develop new banking modules with MasterCard

11 October 2016  |  6746 views  |  0 comments | 17 tweets | 9 linkedin
Cringle piggy-backs off solarisBank to launch Europe-wide P2P payments

Cringle piggy-backs off solarisBank to launch Europe-wide P2P payments

15 July 2016  |  5722 views  |  0 comments | 9 tweets | 5 linkedin
FinLeap gets EUR21m financing; plans to pump EUR50m into fintech ecosystem

FinLeap gets EUR21m financing; plans to pump EUR50m into fintech ecosystem

13 June 2016  |  5115 views  |  0 comments | 5 tweets | 1 linkedin
SolarisBank, a bank for digital and fintech startups, gets banking license

SolarisBank, a bank for digital and fintech startups, gets banking license

14 March 2016  |  17300 views  |  0 comments | 54 tweets | 40 linkedin

Related blogs

Create a blog about this story (membership required)
http://www.financialcrimerisk.fiserv.com/aml?r=finextravisit BNP paribas

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
18741 views 11 comments | 56 tweets | 92 linkedin
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
9600 views comments | 49 tweets | 67 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
8827 views comments | 19 tweets | 15 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
7522 views comments | 37 tweets | 33 linkedin
hands typing furiouslyBlockchain Technology
7508 views 0 | 6 tweets | 1 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job