Press Release
July 8, 2020

Goodwin Advised Storm Ventures as a Joint Investor in solarisBank's €60 Million Series C

The Fintech and Private Equity teams advised Storm Ventures in relation to the EUR 60 million Series C investment round for solarisBank.

Storm Ventures is a Silicon Valley based venture capital firm that focuses on early-stage investments in B2B companies. Storm has invested in leading B2B companies, including Airespace (sold to Cisco), Blueshift, EchoSign (sold to Adobe), Marketo (sold to Adobe), MobileIron, Sendoso, Splashtop and Workato. Storm has also invested in leading European startups, including Algolia, Digital Shadows and Talkdesk.

The funding round was led by HV Holtzbrinck Ventures with participation from Storm Ventures, Vulcan Capital and Samsung Catalyst Fund. The strength of the round was further confirmed with around half of the capital raised from pre-existing investors, led by yabeo, alongside BBVA, SBI Group, ABN AMRO Ventures, Global Brain, Hegus and Lakestar.

Berlin-based solarisBank AG is the first Banking-as-a-Service platform with a full banking license that enables companies to offer their own financial products. Through APIs, partners gain access to solarisBank’s modular services including digital bank accounts and payment cards, identification and lending services, as well as services provided by integrated third party providers. Through this, solarisBank creates a highly developed technological banking ecosystem for fintechs and established digital companies, as well as banks and corporates. Including this series C round, solarisBank has raised more than EUR 160 million in total over the past four years.

The Goodwin team was led by Gregor Klenk and Craig Schmitz.

 For more details, please read the press release.