We advised Solarisbank AG, Europe’s leading Banking-as-a-Service platform, on an acquisition of Contis Group Ltd, which provides full back-end & front-end payments services. Companies have successfully brought their previously disclosed partnership to completion, entering into a definitive business combination agreement. With a valuation of EUR 1.4 billion, Solarisbank and Contis expand their leadership in the European Banking-as-a-Service market.
Contis and Solarisbank will now operate as a joint entity, bringing an unrivaled Banking-as-a-Service offer to the European market. With their product sets and geographical coverage, the group will become a complete end-to-end one-stop-shop for fintechs, banks and corporates embedding finance in their offer. Together their services cover fiat and crypto assets, lending as well as payments, and card issuing and processing across every European Economic Area geography.
The group now boasts over 700 employees at eight locations in Europe and in India. Combined net revenues in 2021 amounted to around EUR 100 million.
Our services and team
Our team consisted of partner Tomas Kontautas, senior associates Vitalija Impolevičienė, Auksė Trapnauskaitė and associates Akvilė Jurkaitytė, Simona Timbarienė and Liutauras Vasiliauskas. Our services included assistance with all Lithuanian law matters related to the acquisition of Contis Group Ltd. operations, including conducting legal due diligence on the Lithuanian business, participation in expert sessions and advising on regulatory matters.