Funding round
Solaris Series C
Solaris, which works in embedded finance solutions development in Berlin, raised $67M in a Series C round announced on 30 Jun 2020, led by HV Capital, at a $360M post-money valuation. 12 firms took part. It is Solaris' third venture round on record; the one before was a Series B in Mar 2018.
$67M
Amount raised
60,000,000 EUR converted
$360M
Post-money valuation
12
Investors
1 lead
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Solaris at $360M after the new money. The $67M bought investors about 19% of the company. It came 27 months after Solaris' Series B. It is 11% of the $637M Solaris has raised in the venture rounds on record. Solaris raised again 13 months later: a Series D round of $224M in Jul 2021, at $1.65B post-money.
Solaris' funding rounds
Solaris has 6 venture rounds on record. This one is highlighted.
- Series A 15 Mar 2017 $28M
- Series B 8 Mar 2018 $70M
- Series C this round 30 Jun 2020, led by HV Capital $67M$360M post-money
- Series D 26 Jul 2021, led by Decisive Capital Management $224M$1.65B post-money
- Series F 19 Mar 2024, led by SBI Holdings $104M
- Series G 4 Feb 2025, led by SBI Holdings and Boerse Stuttgart Group $144M
Investors
Who put money in
HV Capital led the round with 11 other firms.
Lead investor
- HV Capital backs 124 venture-backed companies new investor
Also in the round
- backs 24 venture-backed companies new investor
- Vulcan Capital new investor
- backs 32 venture-backed companies new investor
- backs 68 venture-backed companies new investor
- BBVA new investor
- backs 45 venture-backed companies new investor
- ABN AMRO Ventures new investor
- backs 116 venture-backed companies new investor
- Hegus new investor
- Lakestar backs 95 venture-backed companies new investor
- backs 4 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series C rounds in Banks & ATMs within a year either side disclosed an amount; the median was $100M, and this round was 67% of the median. The closest in time, other companies' Series C rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cross River Banks & ATMs | 27 Apr 2020 | $100M | not disclosed | not named |
| Banks & ATMs | 23 Oct 2020 | $47M | not disclosed | not named |
| Current Banks & ATMs | 24 Nov 2020 | $131M | $750M | Tiger Global |
| WeLab Banks & ATMs | 12 Dec 2019 | $156M | not disclosed | Alibaba Entrepreneurs Fund and China Construction Bank International |
| Banks & ATMs | 8 Mar 2021 | $75M | not disclosed | Allianz X |
| Banks & ATMs | 27 Apr 2021 | $100M | not disclosed | General Catalyst |
| Varo Banks & ATMs | 16 Jul 2019 | $100M | not disclosed | Warburg Pincus and TPG |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Solaris raise in its Series C round?
Solaris raised $67M in its Series C round, announced in Jun 2020.
Who led Solaris' Series C round?
HV Capital led it, with yabeo, Vulcan Capital, Samsung Catalyst Fund, Storm Ventures and BBVA and 6 more.
What was Solaris' valuation at the Series C round?
$360M post-money.
How does it compare with other Series C rounds in Banks & ATMs?
7 Series C rounds in Banks & ATMs within a year either side disclosed an amount; the median was $100M, and this round was 67% of the median.
Did Solaris raise again after this round?
Yes: a Series D round in Jul 2021 of $224M at $1.65B post-money.