Berlin based digital financial platform solarisBank has raised £22.9m in Series A funding led by Arvato financial solutions. solarisBank AG is a banking platform with a full banking license, allowing companies to offer their own financial products. Partners can access the solarisBank modules in the field of e-money, instant credit and digital banking as well as services from third-party providers integrated on the platform via API.
Alongside the investment, solarisBank announced on Tuesday it has also brought in Roland Folz as CEO. Folz previously ran German online bank DAB Bank, Mercedes-Benz Bank, and held senior roles at Deutsche Telekom. From 2009 until last year he was CFO of various divisions of Deutsche Bank. Yabeo Capital's Gerrit Seidel, who is taking over as chair of the supervisory board, told Business Insider: "The increasing internationalisation, plus underwriting, that simply stands for the necessity to get a traditional bench strength on the board. Honestly, that was always clear. "Roland now as the CEO takes care of strategy, the central steering, the internationalisation, the risk management — really, taking the bank to the next level."