D.he high demand from medium-sized companies for loans in the Corona crisis is also noticeable with the digital credit broker Creditshelf. The volume of brokered loans increased by 80 percent compared to the same period last year to 34 million euros, as the listed Frankfurt fintech announced on Thursday.
For the first three months of the year, Creditshelf had to report a significant decline in the brokered loans because investors no longer dared to grant loans via the platform in view of the uncertain Corona outlook. In the meantime, Creditshelf has set up a so-called loan fund, in which the European Investment Bank has also put money that is intended to flow specifically to small and medium-sized companies.
Creditshelf is one of the few German fintechs that are listed on the stock exchange and therefore have to publish their figures: Although sales in the first half of the year increased by 41 percent to now 2.5 million euros, Creditshelf posted a loss of 3 million euros. The share price barely reacted to the numbers; it has been fluctuating between 50 and 55 euros for some time.
CEO Tim Thabe is counting on an economic recovery: “We are convinced that the Corona crisis will lead to a significant boost in digitization – also in the lending business. We also assume that the demand for credit from German SMEs will increase significantly if the economy recovers quickly. “