The platform declined to specify exactly how much has been raised, stating instead that it’s a “medium single-digit EUR million amount”, comprised of both equity and loan capital. The money comes from a mix of new and existing investors, and will be used to expand the business in client relationship/sales and risk management/technology, as well as to accelerate loan origination.
Dr. Mark Währisch joined the creditshelf management team in May. Währisch was formerly a Director at S&P, where he specialised in mid-market credit evaluation for private placements. He has also served stints at Goldman Sachs, Moody’s and KPMG in London and Frankfurt. Dr. Tim Thabe, founding partner at creditshelf, said: “We are delighted that with the appointment of Mark Währisch we have recruited a top expert for mid-market and Mittelstand companies ratings.”
Creditshelf has also become the first platform to make use of Sutor Bank’s recently released banking-as-a-service APIs, which cover a range of banking processes for fintech companies, from investing, to lending, to payments. Creditshelf managing director Christoph Maichel said that the platform values its partnerships with traditional banks, as is also demonstrated by its “successful and intensive” cooperation with MHB Bank.
Launched towards the tail end of 2015, creditshelf’s target borrower is a German corporate with a balance sheet worth at least €10m. The company will exclusively target professional investors, and already has an institutional funding commitment in place, while also lending its own money across the platform.