SBI Holdings reportedly set to acquire majority stake in Solaris as part of new funding round
Japanese financial heavyweight SBI Holdings is reportedly set to acquire a majority stake of more than 70% in embedded finance platform Solaris as part of the German firm’s latest fundraising round, according to Bloomberg, which cites sources familiar with the deal.
Solaris is reportedly set to raise €150m led by SBI
The report prices the stake at about €100 million, adding that Solaris will also raise a further €50 million from German exchange group Boerse Stuttgart and unnamed existing investors for a total of around €150 million in funding.
When contacted by FinTech Futures regarding the report, a spokesperson for Solaris says the company has “reached an important milestone in its financing process”.
“A group of investors and partners has developed a joint financing concept that has been submitted to our shareholders for approval,” the spokesperson says. “The final investment agreement is expected to be concluded before the end of this month.”
SBI previously led Solaris’ €96 million Series F funding round in March last year.
In September, Solaris announced the decision to “discontinue major parts” of its Electronic Money Institution (EMI) business formerly known as Contis, a UK-based company with an EMI licence in Lithuania that the company acquired back in 2021.
The decision formed part of a strategic transformation effort outlined by CEO Carsten Höltkemeyer at the end of September, who said at the time: “This transformation is not just about refining our products or strategies; it’s about reshaping how we operate, collaborate, and build the future together.”
In November, the company sold its Engage business, which operates a Banking-as-a-Service (BaaS) platform for credit unions and community banks, to UK-based fintech Suits Me for an undisclosed sum.
SBI was contacted by FinTech Futures for comment.
