Creditshelf partners with Goldman Sachs and hits profitability

Creditshelf has entered an additional secured financing facility, with Goldman Sachs providing up to €100m.

The facility from Goldman will fund loans through Creditshelf’s platform and help the  German SME alternative lender continue on its targeted growth plan.

Creditshelf confirmed that it remained stable through the third quarter of 2022 and expects a positive EBIT forecast for the fiscal year.

The German fintech says it will manage the credit value chain of loans originated on its platform and Goldman Sachs will provide secured debt financing against the company’s loans.

“The transaction makes us very proud and is a great success for our corporate development,” Creditshelf co-founder and CFO Dr. Daniel Bartsch said.

“The additional funding source is an essential component of our growth strategy, enabling us to meet the ever-increasing loan demand of our SME client base.”

Creditshelf said it recorded revenue growth over the first three quarters of the year, with an arranged loan volume decrease from €110m to €94m over the first nine months of last year compared to this year.

“Even though we were not able to use the full credit pipeline due to reduced funding, we remain optimistic for the rest of 2022 after a stable first nine months,” Bartsch added.

“Although macroeconomic uncertainties remain due to the war in Ukraine, we expect there will be strong demand for financing for forward-looking projects to overcome supply chain issues and rising energy prices.”