Similar to the non-financial brand section, there was not a single major announcement from an infrastructure provider that stood out from the rest. Nevertheless, the majority of the infrastructure news pieces that I found relevant were from banking-as-a-service companies, so let me give you a rundown:
🇩🇪 Solaris: The German infrastructure provider announces a fresh round of funding, but ‘only’ €38 million and purely from existing investors. This is not the strong funding announcement that you hope for; however, Solaris’ challenges around compliance and growth are publicly known. The company will need to prove that it is able to solve these problems and then potentially aim for an exit. (Solaris is not only BaaS; but I still included them here.)
🇵🇱 Verestro: A new name in town; the Polish company Verestro unveils their Banking-as-a-Service platform, which seems to be built on their experience working on various Fintech projects around the world. Their offering sounds compelling, but it will be interesting to see if they have a chance to win some relevant deals.
🇺🇸 American Express: The US card provider launches Sync, which aims to make it easier for software firms to embed its APIs. While this is not the traditional BaaS offering, it might be very appealing for software companies that serve existing American Express customers who might be unwilling to switch cards.
