Germany’s New July Unicorns
The summer months are traditionally slower times for business, but this season is the exception where German unicorns are concerned. Two fintech companies and one content management system (CMS) provider recently joined the ranks of firms valued at one billion dollars or more.
One of them is Contentful from Berlin. It achieved unicorn status after a USD 175 million round of funding. Founded in 2013 and currently employing 600 people in the US and Germany, Contentful offers customers a CMS capable of playing out content onto various channels and platforms, for example, by placing blog entries and push notifications in apps.
Not to be outdone, Berlin neo-bank Solarisbank cracked the one-billion mark with a financing round worth EUR 190 million and now boasts a total valuation of EUR 1.4 billion. The German rising star also announced a fusion with British banking-as-a-service provider Contis. Established in 2016, Solarisbank is a licensed bank offering a platform for apps and online services for other fintechs that aren’t bank-licensed.
Last but not least, Raisin DS reached the EUR 1.3 billion mark after the merger of its two halves Raisin and Deposit Solutions. This was the largest fintech fusion ever in Germany. Businesses platform Finance Forward reports that the new company is likely to further elevate its valuation in its upcoming next round of funding.
Roland Folz, CEO of Solarisbank © Solarisbank