Solid, the leading fintech-as-a-service platform, has announced a successful $63 million Series B funding round led by FTV Capital. This investment will fuel Solid’s expansion into various sectors, including travel, logistics, construction, healthcare, education, and the gig economy. The company aims to provide modern fintech infrastructure to enable any company to easily launch and scale fintech products. This is a significant opportunity for tech investors, as companies increasingly recognize the value of embedding fintech products to drive user engagement and revenue growth.

Traditional fintech infrastructure can be complex, fragmented, and expensive. Solid addresses this challenge by offering a fully abstracted fintech-as-a-service platform with modern developer interfaces and experiences. The platform allows companies to quickly set up bank accounts, crypto wallets, send payments, and issue cards to end users, while Solid handles the heavy lifting of building and maintaining compliant fintech infrastructure. This comprehensive approach sets Solid apart and positions it as a market leader in the fintech-as-a-service space.

FTV Capital, as a sector-focused growth equity firm with extensive experience in investing in financial technology, recognizes the market need for modern fintech infrastructure. Robert Anderson, partner at FTV Capital, acknowledged Solid’s impressive financial position, explosive growth, and caliber of clients as key factors in the decision to invest. FTV will also be joining Solid’s board of directors as part of this investment. This is a vote of confidence in Solid’s leadership, commitment to compliance, technology, and customer experience.

Solid’s growth has been remarkable, with a 10x increase in revenue, customer base, and transactions processed in the past 12 months. The company has become the go-to provider for high-growth companies looking for a one-stop shop for their fintech needs. With over 100 fintech programs and $2 billion in transactions processed on their infrastructure, Solid has demonstrated its ability to deliver reliable and scalable solutions.

Tech investors should take note of Solid’s success in attracting established fintechs, SaaS leaders, and rapidly growing startups to their platform. Plate IQ, Paystand, Shifl, Everflow, Lumanu, and Starlight are among the many clients benefiting from Solid’s infrastructure. Solid’s platform offers a light technical integration process, allowing fintech programs to own the user experience without significant regulatory overhead. This ease of integration and speed to market are key advantages for companies looking to leverage fintech capabilities.

In summary, Solid’s $63 million Series B funding round led by FTV Capital reflects the growing demand for modern fintech infrastructure. With its comprehensive platform and impressive track record, Solid is well-positioned to serve the needs of companies across various industries. Tech investors should keep an eye on Solid as it continues to innovate and drive the future of fintech.