Odaily News: German fintech company Solaris (formerly Solarisbank) has completed a Series F financing round with a valuation of $1.6 billion, raising €38 million ($41.8 million). The new funding will be used to expand its banking-as-a-service business. Solaris describes this round as the first closing of its Series F funding, but has not disclosed the specific names of the investors, only stating that it is an internal financing round (meaning all investors are existing investors); Solaris has also not revealed the total amount of funds it intends to raise. The company has previously raised hundreds of millions of dollars to build its embedded finance platform. Solaris' business covers around 180 different APIs, including banking and card services, payments, loans, identity verification, and cryptocurrencies. In addition, Solaris is used by companies such as Samsung, American Express, and Coinbase to provide various financial services to their customers. (TechCrunch)