ABN AMRO Digital Impact Fund invests in German fintech solarisBank
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ABN AMRO’s Digital Impact Fund (DIF) has agreed to acquire a stake in German fintech solarisBank. The investment will build on the existing relationship between ABN AMRO and solarisBank, which first began in December 2017, when ABN AMRO’s subsidiary Moneyou entered into a partnership with the Berlin-based fintech.
Recently, Moneyou and solarisBank spent a mere six weeks developing a solution that allows Moneyou’s retail clients in Germany to obtain loans from solarisBank. The entire application and approval process is digitalised and takes seven minutes.
Director Hugo Bongers of ABN AMRO Digital Impact Fund comments, “solarisBank is a leading German fintech, and the successful partnership with Moneyou shows the exciting opportunities for further improving ABN AMRO’s services to its clients, both retail and commercial. The speed that we managed to achieve with solarisBank in offering new products on the German market is particularly encouraging, and a selling point. This investment also gives ABN AMRO direct access to the broader ecosystem of solarisBank’s investors and other stakeholders.”
solarisBank CEO Roland Folz adds, “Given our successful partnership with MoneYou, we believe that working with ABN AMRO offers significant opportunities, and we look forward to achieving synergies.”
ABN AMRO's DIF is a corporate venture capital fund specifically for fintech. ABN AMRO uses this fund for its strategic investments in innovative startups and scaleups that digitalise financial products and services. Besides solarisBank, the fund also owns four other portfolio companies: US fintechsand , in Sweden and