Loanboox doubles revenue in the first half of the year: strong momentum in the new segments Real Estate Finance and SaaS
Loanboox successfully closes the first half of 2023 with encouraging growth in its business segments Public Finance, Real Estate Finance and Software-as-a-Service (SaaS). A total of CHF 2 billion in financing was concluded through Loanboox in the first six months. The fintech thus doubled its revenue compared to the same period last year.
In the Public Finance segment, with which Loanboox started more than six years ago, the market-leading position in Switzerland was further expanded. The need on the borrower side to obtain competitive financing terms is high and continues to grow due to the volatile interest rate environment.
High growth momentum in Real Estate Finance
In particular, the Real Estate segment, in which Loanboox has been active for just over a year, grew strongly and already accounts for around 40 percent of revenue: In a challenging market environment with rising interest rates, transactions with a volume of over CHF 160 million were closed in the first half of 2023. These transactions generate substantial efficiency gains for lenders and significant interest savings for borrowers. Loanboox’s customers include real estate companies such as Ina Invest AG, which is listed on the Swiss stock exchange SIX, as well as real estate funds and housing cooperatives.
SaaS: Loanboox further expands financing tool
Since the beginning of 2022, Loanboox has also been active in the Software-as-a-Service segment, offering customers white label solutions that enable efficient sourcing and management of debt capital. In 2023, the software was enhanced with key features and includes new tools for portfolio management, scenario analysis as well as covenant monitoring.
In recent months, various companies have already decided to use the software, for example Refolio Real Estate AG:
«We use the software to centrally manage all aspects of our real estate financing. It supports us with data-based decisions and forecasts as well as with reporting and traceability. Excel lists are definitely a thing of the past», says Nicola Haas, CEO Refolio Real Estate AG.
New leadership team takes over
Urs Meier, already a member of the Executive Board, will become the new CEO of Loanboox. He will take over from Philippe Cayrol, who is leaving the company at his own request at the end of July to take on a new challenge after around three years with the company. In addition to Urs Meier, Dario Zogg (Chief Technology Officer) and Dominique Hügli (Chief Product Officer) complete the management team.
Dr. Felix R. Ehrat will take over as Chairman of the Board of Directors. He has been a member of the board since 2020.
«Loanboox is one of the best-known fintechs in Switzerland and has successfully driven digitalization in the area of marketplace lending. I am delighted to now actively shape the further development of the company as Chairman of the Board and wish the new management team great success. The entire Board thanks Philippe Cayrol for his valuable contributions and wishes him all the best in his future endeavors», says Felix R. Ehrat.
Felix R. Ehrat was a senior partner of the law firm Bär & Karrer for many years as well as a member of the Executive Committee and General Counsel of Novartis. During his professional career, he gained extensive experience in the financial services sector as chairman and member of the board of directors of several banks.
Stefan Mühlemann, the founder of Loanboox, is stepping down as chairman for health reasons, but will remain a member of the board of directors. The board of directors is completed by Oliver Lang, who has been a member since 2022.
