Solarisbank Raises €26 Million

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Roland Folz - center left - will take over as Solarisbank CEO. Picture Source: Solarisbank

The Berlin-based, digital-banking platform Solarisbank has raised €26 million ($27 million) in new funding, according to information obtained by Handelsblatt.

New investors include the Bertelsmann outsourcing-services subsidiary Arvato, the Japanese financial services company SBI Group and Germany’s third-largest private bank Hypovereinsbank.

Finleap, the fintech incubator that launched Solarisbank, will remain the largest investor in the digital bank, but will no longer have a majority stake.

Solarisbank offers a digital platform that companies use to create custom banking solutions. The bank plans to use the financing to expand and beef up its equity backing.

The digital bank has brought on Roland Folz – who brings past experience at Deutsche Bank, Mercedes Benz bank and DAB Bank – as its chief executive.

Gerrit Seidel, an original Solarisbank investor, will take over the reigns as the bank’s non-executive supervisory board chairman. Jan Beckers, the current chairman, will act as Mr. Seidel’s deputy.

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