3/8/2018, 1:21 PM (Source: TeleTrader)
more TeleTrader news

BBVA, Visa, ABN Amro invest in solarisBank

SolarisBank AG, based in Berlin, said it secured €56.6 million in Series B funding, including the entry of Banco Bilbao Vizcaya Argentaria SA, Visa Inc., Lakestar Advisors GmbH and ABN AMRO Bank NV's Digital Impact Fund (DIF). The statement issued on Thursday adds the round attracted existing investors Bertelsmann SE & Co. KGaA, through its Arvato Financial Solutions, and SBI Holdings Inc. from Japan.

The banking-as-a-platform service (BaaS), co-founded by specialized venture capital company FinLeap GmbH two years ago, is used by sixty startups and entities from fintech and the digital world. The firm operates in digital banking and cards, payments and escrow services, and lending and deposits for corporate clients. TechCrunch wrote that it learned some of the shareholders sold their stakes in solarisBank in the transaction.

FinLeap reportedly holds almost a third of the startup, while Spain's BBVA is said to have become the second-largest investor, after yesterday a substantial investment in Atom Bank was disclosed.

Baha Breaking News (BBN) / IT