Allen & Overy advises SBI Group on its investment in Solaris
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The current round consists of EUR 96 million in additional capital and a financial guarantee of up to EUR 100 million capital equivalent. Solaris will use the funds to onboard the ADAC (Allgemeiner Deutscher Automobil-Club) credit card portfolio.
The Allen & Overy core team comprised partners Dr Alexander Behrens (Banking Regulatory/Lead), Martin Scharnke (Capital Markets), Dr Michael Weiß (Corporate/M&A, all Frankfurt), Nikki Johnstone (Banking Regulatory, London), Dr Heike Weber (Tax) and Dr Udo Olgemöller (Public Law, both Frankfurt), counsels Dr Andre Wandt (Corporate/M&A) and Dr Esther Schmidt-Naumann (Litigation), senior associates Jamie Greenwood (London, Regulatory) and Dr Stephan Bühner (Public Law, Frankfurt), as well as associates Niklas Germayer (Frankfurt), Katharina Wollmert (Frankfurt), Suzana Cvejic (Frankfurt, all Regulatory), Faria Fagirzai (Frankfurt, Capital Markets), Damian Snop (Frankfurt, Tax) and Veronika Gaile (Frankfurt, Corporate/M&A).
Alexander Behrens commented: “We are delighted to have supported our client SBI Group on this strategic investment in Solaris, which reflects the SBI Groups’s commitment to the European fintech sector and its vision of creating a global digital ecosystem. Solaris is the pioneer and innovator in embedded finance and we are proud to have been part of this transaction, which will enable Solaris to further expand its platform and product offering."