Cologne, 22 April 2020. The debt capital market platform Loanboox has received its financial services licence from the financial supervisory authority BaFin in accordance with section 32 of the German Banking Act (KWG). As a regulated financial services institution, Loanboox is now qualified and authorised to provide investment brokerage services.
With the notice of approval from the supervisory authority, the fintech is pushing ahead with the expansion of its range of services in Germany:
The successful licensing by BaFin is an important building block on our strategic growth path. Thanks to the licence, we can now offer our clients a very broadly diversified product portfolio,
says Stefan Mühlemann, founder and CEO of Loanboox.
So far, Loanboox has mainly arranged financing for municipalities, districts and public utilities in Germany. The company will continue to pursue this course. In the future, however, the business is to be significantly intensified with new customer segments. For example, large and medium-sized companies could soon also issue registered and bearer bonds completely digitally via the platform.
We are currently in in-depth discussions with potential strategic partners to explore possibilities for cooperation. Here we have also included institutes from other European countries from the very beginning,
Due to the EU-wide freedom to provide services, Loanboox can also use the authorisation obtained in Germany in other member states of the European Economic Area (EEA) by means of a notification procedure (passporting). In addition to Germany, the Swiss fintech is already active in Austria, France and the Netherlands. Further market entries are planned. In total, more than 2000 borrowers and 500 capital providers have access to the platform.
Loanboox is the independent debt capital market platform. It connects companies and public sector institutions seeking capital with investors. Participating parties can negotiate on the platform without intermediaries and conclude loan transactions completely digitally. Since the launch of Loanboox in Germany in October 2017, financing of more than 7.5 billion euros has been requested via the platform. Around 600 borrowers and 150 capital providers from Germany are now connected to the platform.