Solaris Plans to Reduce Its Workforce by One-Third

Solaris Plans to Reduce Its Workforce by One-Third

Hey FinTech Fanatic!

Earlier this month, Solaris announced a sweeping transformation programme that will phase out its EMI and embedded finance operations under Solaris SE.

This marks a significant shift, particularly for its EMI unit, which includes Contis—the UK-based payments firm Solaris acquired and rebranded back in 2012.

According to Handelsblatt, this overhaul will impact around 240 of Solaris’ 700 employees. This news comes after Solaris secured €96 million in a Series F funding round in March, plus a financial guarantee of up to €100 million, set to back a substantial contract with motor association ADAC.

Despite the funding boost, Solaris reported a €56 million loss for fiscal year 2022, adding even more weight to these strategic moves.

You can read more (more positive ??) FinTech industry updates below??, and I'll be back in your inbox tomorrow!

Cheers,

Marcel


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Carla Long

Solution orientated business software specialist / business process optimisation / SF certified administrator / SF Trailhead Ranger / Slack certified administrator / Monday.com core certified / SharePoint administration

16 分钟前

LinkedIn is lacking the tearful face reaction ?? That's even after the ex-Contis redundancies in January of which I was one and the cull of original Solarians the previous year. Turbulent times.

回复
Mark Dunstan

Workplace and Facilities Manager at Solaris SE

14 小时前

A very sad way to see the Solaris EMI business coming to an end, with lots of talented employees now available for work

Malcolm Peters

Product Owner @ Solaris SE | Agile Methodologies

17 小时前

Very sad to see the end of the Solaris Emi business

Jerry Thatcher

Senior Account Development Manager @ Solaris SE | Financial Services | FinTech | Card Issuing | Processing

1 天前

Hi Marcel van Oost - the rebranding from Contis to Solaris happened in December 2022, not 2012 as per this article, and the Finextra article published yesterday ??

Przemek Lopaciuk

I help businesses in Industrial, TMT and FinTech markets to accelerate revenue growth and operations through AI.

1 天前

Good timing for Solaris SE transformation. I'm sure they will come out of it even stronger.

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