Solid Raises $63M in Series B Funding


Solid, a San Mateo, CA-based provider of a fintech-as-a-service platform that offers modern infrastructure for any company to launch and scale fintech products, raised $63M in Series B funding.

The round was led by FTV Capital and Headline. Robert Anderson, partner at FTV Capital, joined Solid’s board of directors as part of this investment.

The company intends to use the funds to accelerate its expansion into fintech-ready verticals such as travel, logistics, construction, healthcare, education, and the gig economy.

Led by CEO Arjun Thyagarajan, and president Raghav Lal, Solid is a fintech infrastructure provider, which offers a fully integrated and compliant suite of fintech services. On its fully managed infrastructure, any company can build and launch embedded fintech products such as bank accounts, crypto wallets, payments, and cards to their users.

Solid’s programs include established fintechs (such as Plate IQ and Paystand), SaaS leaders (such as Shifl and Everflow), and rapidly growing startups (such as Lumanu and Starlight).