When we started Penta, we thought finding a banking partner was going to be easy. There are so many of them! We learned otherwise.
After eight months of working with the team at solarisBank, we’re very proud to announce that Penta is partnerning with solarisBank to offer digital business banking services to German businesses and startups starting in June! 🎉
So, how did we decide to work together? 🤔
As a Fintech startup, we don’t have a banking license. And we need one in order to help support our offering for businesses and startups. From the transaction API, to the regulatory requirements and the bank insurance guarantee that banks offer, we needed a banking partner that we could trust and work with in the long term.
We spoke to 12 banks. Eight in Germany and four in other parts of Europe. Most of the other banks offered an obsolete rusty API that was built on legacy code. The on-boarding costs and timeline of going to market were ridiculous 😡. On top of that, most didn’t allow us to innovate or to be creative. The other banks wanted us to build a copy of their bank, making it almost impossible for our team at Penta to innovate and to actually build a bank account that changes business banking for the better.
Through all this mess, we met solarisBank.😃
The team at solarisBank was able to relate to the problems we are trying to solve in business and startup banking. They understood our mission. And they have been giving us unwavering support since then, helping our team at Penta get off the ground as quick as possible, at the tempo that works for us 👏.
A big thank you to the team at solarisBank for sticking by us, for being so flexible and for empowering us to innovate so that we can build a bank account that empowers businesses.
In the coming months we’re releasing our Beta to a limited number of startups in Germany to help us test and get feedback on how we can make business banking in Europe easier, faster and more powerful.