{"id":43310,"date":"2020-07-01T11:36:10","date_gmt":"2020-07-01T09:36:10","guid":{"rendered":"https:\/\/newserver.fyb.de\/large-financing-round-solarisbank-receives-60-million-euros\/"},"modified":"2020-07-01T11:36:10","modified_gmt":"2020-07-01T09:36:10","slug":"large-financing-round-solarisbank-receives-60-million-euros","status":"publish","type":"post","link":"https:\/\/www.fyb.de\/en\/large-financing-round-solarisbank-receives-60-million-euros\/","title":{"rendered":"Large financing round: Solarisbank receives 60 million euros"},"content":{"rendered":"<p>Hamburg \u2014 Sola\u00adris\u00adbank has secu\u00adred the highest finan\u00adcing round in its history, amoun\u00adting to 60 million euros. The post-money valua\u00adtion increa\u00adses to 320 million euros as a result of the capi\u00adtal increase. \u201cSince we were not under any time pres\u00adsure, the Corona crisis did not really affect our funding process,\u201d <strong>CEO Roland Folz<\/strong> told us. \u201cDue to high demand from inves\u00adtors, we actually raised more capi\u00adtal than origi\u00adnally planned.\u201d<\/p>\n<p>With the funding behind it, Sola\u00adris\u00adbank \u2014 which has grown exclu\u00adsi\u00advely orga\u00adni\u00adcally since its foun\u00adding in 2016 \u2014 can even consider larger tran\u00adsac\u00adtions. Sola\u00adris could thus take over Wire\u00adcard Bank AG, at least in&nbsp;parts.<\/p>\n<p>Asked about this scena\u00adrio, Sola\u00adris\u00adbank CEO Folz told us yester\u00adday, \u201cIt\u2019s never good news when a compe\u00adti\u00adtor gets into trou\u00adble. Because what ulti\u00adm\u00adately makes compa\u00adnies better is compe\u00adti\u00adtion.\u201d Howe\u00adver, it is true that \u201cWire\u00adcard Bank\u2019s services are simi\u00adlar to ours. Depen\u00adding on how things deve\u00adlop, we could ther\u00ade\u00adfore certainly be some\u00adthing like the natu\u00adral alter\u00adna\u00adtive for many of the compe\u00adti\u00adtor\u2019s customers.\u201d<\/p>\n<p>The lead inves\u00adtor is venture capi\u00adta\u00adlist <strong>Holtz\u00adbrinck Ventures<\/strong>, which has not yet been one of the share\u00adhol\u00adders. That a German VC specia\u00adlist is the lead inves\u00adtor in such a large round (and even more so, after not having been invol\u00adved at all before) is, to our recoll\u00adec\u00adtion, rare in the German fintech sector. But it shows that local venture capi\u00adtal play\u00aders no longer auto\u00adma\u00adti\u00adcally shy away from larger rounds. Early\u00adbird also contin\u00adued to play a lively role in N26\u2019s most recent mega-fundings.<\/p>\n<p>In addi\u00adtion to Holtz\u00adbrinck, <strong>Vulcan Capi\u00adtal<\/strong> (the invest\u00adment arm of the foun\u00adda\u00adtion of the late Micro\u00adsoft co-foun\u00adder Paul Allen), another Ameri\u00adcan VC called <strong>Storm Ventures<\/strong>, and the <strong>Samsung Cata\u00adlyst Fund<\/strong>, which belongs to the Korean tech\u00adno\u00adlogy group of the same name, are also new on board. Of the legacy inves\u00adtors, <strong>Yabeo, BBVA, SBI Group, ABN Amro, Global Brain, Hegus <\/strong>and<strong> Lake\u00adstar<\/strong> went along. <strong>Sola\u00adris\u00adbank head of stra\u00adtegy Layla Qassim<\/strong>: \u201cWe had a slight over\u00adhang of stra\u00adte\u00adgic share\u00adhol\u00adders so far. That\u2019s why we focu\u00adsed a bit more on finan\u00adcial inves\u00adtors this time around.\u201d<\/p>\n<p>Inte\u00adres\u00adt\u00ading: The press release menti\u00adons that Deut\u00adsche Bank supported the round as \u201cprivate place\u00adment agent\u201d. \u201cIn our first two finan\u00adcing rounds, we got by without an accom\u00adpany\u00ading bank. This time we deli\u00adbera\u00adtely chose a diffe\u00adrent path \u2014 because: A company at our stage can use good friends. And with Deut\u00adsche Bank we have now found such a friend,\u201d says CEO Folz. The obvious ques\u00adtion as to whether this also means that a decis\u00adion has alre\u00adady been made as to which finan\u00adcial insti\u00adtu\u00adtion could one day accom\u00adpany Sola\u00adris\u00adbank to the stock exch\u00adange, was not answe\u00adred by Folz with the equally obvious sentence: \u201cOf course, it will be Deut\u00adsche Bank\u201d. Instead, he empha\u00adsi\u00adzed that an IPO was not on the agenda for the next two years in any case, and that it was only \u201cone conceiva\u00adble option among seve\u00adral\u201d for the time after&nbsp;that.<\/p>\n<p>What is to happen now with the 60 million euros? \u2011Capture the losses expec\u00adted at least for this year and next Drive Euro\u00adpean expan\u00adsion. Howe\u00adver, Sola\u00adris\u00adbank (employees curr\u00adently: 310) intends to conti\u00adnue to do this prima\u00adrily from Berlin; foreign offices are to be opened only in isola\u00adted&nbsp;cases.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hamburg \u2014 Sola\u00adris\u00adbank has secu\u00adred the highest finan\u00adcing round in its history, amoun\u00adting to 60 million euros. The post-money valua\u00adtion increa\u00adses to 320 million euros as a result of the capi\u00adtal increase. \u201cSince we were not under any time pres\u00adsure, the Corona crisis did not really affect our funding process,\u201d CEO Roland Folz told&nbsp;us.&nbsp;[\u2026]<\/p>\n","protected":false},"author":2,"featured_media":34989,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1365,1366,1369,1373],"tags":[],"class_list":["post-43310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-private-equity-en","category-news-en","category-investors","category-venture-capital-en","news-category-private-equity-news-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Large financing round: Solarisbank receives 60 million euros - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/large-financing-round-solarisbank-receives-60-million-euros\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Large financing round: Solarisbank receives 60 million euros - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"Hamburg \u2014 Sola\u00adris\u00adbank has secu\u00adred the highest finan\u00adcing round in its history, amoun\u00adting to 60 million euros. 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