Spain's BBVA Invests in Banking Platform SolarisBank
March 08 2018 - 5:25AM
Dow Jones News
By Pietro Lombardi
Banco Bilbao Vizcaya Argentaria SA (BBVA.MC) is investing in
German banking platform solarisBank AG, the Spanish bank said on
Thursday.
BBVA has joined a 56.6 million euros ($70.3 million) series B
funding round in the Berlin-based fintech company and is also
buying a stake in solarisBank from UniCredit SpA's (UCG.MI) German
unit, it added. Financial details weren't disclosed.
The two-year-old digital banking platform's funding round
includes renewed investments from existing investors, Japan's SBI
Group and Bertelsmann's Arvato Financial Solutions, as well as new
investors, BBVA said.
Besides the Spanish bank, ABN Amro, Visa and Lakestar took part
in the round, which is subject to approval by authorities.
"The newly raised funds will support solarisBank's growth
strategy, further develop its digital platform and product
portfolio, as well as expansion to other international markets,"
BBVA said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
March 08, 2018 06:10 ET (11:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Unicredit (BIT:UCG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Unicredit (BIT:UCG)
Historical Stock Chart
From Apr 2023 to Apr 2024