Finews: Loanboox with doubled volume
The Zurich-based debt capital platform Loanboox looks back on a year of rapid expansion. In the meantime, the flagship fintech is reaching out beyond Europe.
The Zurich-based fintech announced on Tuesday that it had placed financing requests worth CHF 15 billion via Loanboox in 2019. Three years after its launch, the start-up has received a total of CHF 33 billion in enquiries – last year, the volume almost doubled.
However, the application process has not yet been completed: Customers are municipalities, cities, cantons and other public-law corporations and large companies as borrowers, as well as institutional investors and banks as capital providers. According to Loanboox, more than 400 loans were concluded between these parties across Europe. Compared to the previous year, this corresponds to an increase of 30 percent. A typical financing is between 10 and 15 million Swiss francs.
Profitable in 2021
The young company does not provide any precise information on its operating figures; upon request, it said that it had been able to significantly increase its turnover compared to 2018. Loanboox aims to be profitable by 2021 – unless there is another major expansion.
The fintech has already crossed national borders and counts 2,200 organisations from Switzerland, Germany, France, Austria, Liechtenstein and the Netherlands among its clients. Loanboox recorded the fastest growth in Germany, according to the report.
Exhibition in Hong Kong
And the feelers are already being put out further. Loanboox presented itself in Hong Kong last year and sought contact with investors who would like to provide financing on the platform. Loanboox itself closed a financing round of 22 million francs at the beginning of last year.
The company’s valuation has since risen to 122 million Swiss francs.
Click here for the detailed pressrelease of Loanboox.