creditshelf with significant growth in the first half of 2018
- New record achieved with loan requests for more than EUR 1 billion since company was launched
- Loan volume brokered via the platform increased by 86% to EUR 15.4 million
- Revenues rise significantly to EUR 765.5 thousand
- Management Board expects growth trend to continue in the second half of the year
Frankfurt/Main, September 28, 2018 – creditshelf Aktiengesellschaft, a pioneer in the field of digital SME financing in Germany, published its financial report for the first six months of 2018 today. creditshelf was able to continue its growth course in the first half of the year and increased revenues by 287.4% to EUR 765.5 thousand (previous year: EUR 197.6 thousand) compared to the same period of the previous year. The loan volume brokered via the creditshelf platform, which increased from EUR 8.3 million to EUR 15.4 million in the reporting period – this equates to a significant increase of 86 % – contributed significantly to this. Accordingly, creditshelf recorded an increase in brokerage fees received from borrowers and in service fees paid by investors so that revenues almost tripled in the first six months of 2018.
Earnings before interest and taxes (EBIT) for the first half of 2018 amounted to EUR -2,876.6 thousand (previous year: EUR -724.7 thousand). As expected, EBIT was negative, which was due in particular to increased expenses for personnel and marketing to promote the growth of the company as well as the increased expenses from the virtual equity participation programs of the creditshelf Group.
Dr. Tim Thabe, CEO of creditshelf, comments on business development: “In the first half of 2018, we took further important steps in our development to establish ourselves as a reliable partner for medium-sized companies and to arrange attractive financing solutions. This is also reflected in the positive development of our operating business in the first six months of 2018. At the same time, our successful listing on the Frankfurt Stock Exchange represents a significant milestone on our growth path, which will give us further impetus.”
The company set a new record for the volume of loans requested via creditshelf in the reporting period. In the first half of the year, loans totaling EUR 507 million were requested via the creditshelf platform (same period of the previous year: EUR 166 million). The number of loan projects requested also increased significantly to 560 (same period of the previous year: 269). As of June 30, 2018, the SME financer had received a total of 1,448 loan applications with a total volume of more than EUR 1.15 billion since the launch of the platform.
“We see great growth potential in the market for digital SME financing. While the German economy is growing and gross domestic product is rising steadily, the volume of loans granted by banks to German SMEs has remained virtually unchanged over the past ten years. According to our estimates, there is a financing gap of around EUR 100 billion here. As a result, the number of vacant loan projects that can be serviced via alternative financing solutions is increasing. We see ourselves well positioned to consistently exploit these market opportunities with our solution for digital SME financing,” adds Dr. Daniel Bartsch, COO of creditshelf.
In view of the positive business development in the first half of 2018, the Management Board expects the growth trend to continue as the year progresses. Due to the high scalability of the platform, the dynamic market environment and its consistent growth strategy, the Management Board expects to be able to finance loans of EUR 500 million per year in the medium term.
Dr. Mark Währisch, CRO of creditshelf, explains the strategy: “We are constantly developing our software, algorithms and models to make our credit risk analysis even faster and more accurate. In addition, we regularly engage in dialogue with banks in order to position creditshelf as a cooperation partner for such loans. Furthermore, we are working on expanding our product range and offering our customers additional attractive financing solutions.”
As of today, the full report for the first half of 2018 is available for download from the Investor Relations website ir.creditshelf.com.
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creditshelf is a pioneer in the field of digital SME financing in Germany that enables loans via its easy-to-use online platform www.creditshelf.com. creditshelf, which was founded in 2014 and is based in Frankfurt/Main, sees itself as a market and technology leader in the fast-growing business of digital SME financing in Germany. As a provider of SME financing, creditshelf has developed its platform to meet the financing needs of German SME borrowers through loans from investors interested in this asset class. In this process, creditshelf offers to broker unsecured loans and thus enables small and medium-sized companies to access highly attractive financing alternatives. At the same time, creditshelf offers professional investors looking for attractive investment opportunities access to SME financing. The core competencies of creditshelf include the selection of suitable credit projects, analysis of the creditworthiness of potential borrowers and the provision of credit scoring and an indicative coupon margin. creditshelf receives fees for its services from both SME borrowers and investors.
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