A Tech company with a German banking license, solarisBank has built an API-accessible banking platform which enables digital companies to offer their own financial solutions. 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.
Solarisbank does not operate under its own brand in the market. Instead, it allows other companies to offer legally compliant financial services such as credit cards or loans by providing its own infrastructure.
At June 2018, solarisBank has 65 partner companies, including Cringle and Smave, and believes it will break the threshold of 100 partners this year, or in the first quarter of 2019. The volume of loans and number of accounts more than doubled between the third and fourth quarters of 2017, and had already tripled between the fourth quarter of 2017 and the first quarter of 2018.
In June 2018, the Berlin-based FinTech announcesdits intention to reach a break-even on a monthly basis by the end of next year, adding that it planned keep all options open for its shareholders, including a profitable ’keep it up’, additional investments or also an IPO,