Contis and Solarisbank AG announced this week they are joining forces, becoming the undisputed pan-European Banking-as-a-Service leader. This merger follows Solarisbank’s recent series D funding round which raised €190million and valued the company at €1.4bn.
Founded in 2016 out of a Berlin-based incubator, Solaris has rapidly grown into one of Europe’s leading embedded finance platforms, and its latest fintech unicorn. The collaboration with Contis, one of the most comprehensive Banking-as-a-Service platforms for payments in Europe, will allow for a holistic offering that is second to none in terms of market coverage, products and services.
Contis Founder and Executive Chairman, Peter Cox, said: “Contis is one of the true fintech trailblazers, with numerous awards to its name and a proven track record of delivering disruptive technology, securely with proven high reliability in the payments space. Having already become one of Europe’s fastest-growing companies over the last three years, this coming together brings our joint velocity to the next level. Solarisbank and Contis share the same vision and values and together we will spearhead the global trend of embedded finance.”
Upon completion of the transaction, the combined entity will be led by Solarisbank’s CEO, Dr Roland Folz. Peter Cox, will support the transition in his new role as Senior Advisor and shareholder.
Ramin Niroumand, Chairman of the Supervisory Board of Solarisbank said: “The alliance of our companies follows a clear strategic rationale as the platforms complement each other perfectly. Together we will build an international powerhouse for Banking-as-a-Service. We are delighted to have won a group of new elite investors to accompany us on our future growth journey.”
This merger will be subject to regulatory approval. The combined companies will continue to operate under their own distinctive brands and will harness each other’s industry-beating technology, talent and geographic footprint to deliver unsurpassed value to all clients across the UK, EEA and ultimately, APAC and CEMEA.