BBVA backs solarisBank's €57M Series B for second deal this week
March 9, 2018
Banking giant BBVA is making waves when it comes to fintech investments this week.
Just two days after upping its investment in Atom Bank, the Spanish lender has participated in the €56.6 million Series B round of solarisBank.
Visa, Lakestar and ABN AMRO also joined the round as new backers, while existing investors Arvato Financial Solutions and SBI Group also participated.
Although recently we have highlighted the regulatory reasons why fintech investment might grow, BBVA's double whammy this week showcases that consumer-facing technology, rather than software to adhere to new sets of rules, is still key.
solarisBank, for instance, provides a platform for businesses which they can use to build their own banking product. Atom, meanwhile, is a lender which operates exclusively on smartphones and tablets.
Just two days after upping its investment in Atom Bank, the Spanish lender has participated in the €56.6 million Series B round of solarisBank.
Visa, Lakestar and ABN AMRO also joined the round as new backers, while existing investors Arvato Financial Solutions and SBI Group also participated.
Although recently we have highlighted the regulatory reasons why fintech investment might grow, BBVA's double whammy this week showcases that consumer-facing technology, rather than software to adhere to new sets of rules, is still key.
solarisBank, for instance, provides a platform for businesses which they can use to build their own banking product. Atom, meanwhile, is a lender which operates exclusively on smartphones and tablets.
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