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Report: German fintech solarisBank eyeing IPO


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Report: German fintech solarisBank eyeing IPO

Germany's solarisBank AG aims to break even by the end of 2019 and will look at IPO as a possible financing option, Bloomberg News reported June 12, citing an interview with CEO Roland Folz.

Folz told the news outlet that its lending volume should grow to €400 million when it gets to a break-even point on a monthly basis by the end of 2019.

"Until then, we do not plan any further rounds of financing to keep all options open for our shareholders," Folz said. Aside from the IPO, other options include additional investments, he added.

In its second round of financing in March, the company received €56.6 million from investors including Banco Bilbao Vizcaya Argentaria SA Visa Inc., an ABN AMRO Group NV fund and current owners Arvato Financial Solutions and SBI Group.

Currently, the German financial technology company with a bank license draws about one-third of the revenues from interest rate business and two-third from commissions, according to the report.