creditshelf acquires Main Funders financing platform and agrees on cooperation with Commerzbank AG

• Lending platform Main Funders fits in with creditshelf’s platform strategy
• Lending corporation agreed
• In 2019, the first year of the agreement, an executed loan volume in the higher double-digit million range is targeted
• Important step towards achieving the medium-term growth target of EUR 500 million executed loans p.a.

Frankfurt am Main, 30 April, 2019 – creditshelf Aktiengesellschaft, a pioneer in the field of digital SME financing in Germany, acquires the peer-to-peer lending platform Main Funders from Commerzbank AG. In this context, creditshelf and Commerzbank have entered into a fundamental lending cooperation agreement. Under the agreement, Commerzbank will refer selected loan requests to creditshelf that have so far met the profile of Main Funders. The cooperation has advantages for both organisations; Commerzbank can offer an alternative financing solution, while creditshelf can grow arranged loan volumes.

creditshelf acquires Commerzbank’s Main Funders financing platform. The peer-to-peer lending platform for medium-sized companies was founded in 2016. Main Funders’ platform concept is in line with creditshelf’s strategy of bringing potential investors together with medium-sized companies.

In the course of the acquisition of Main Funders, creditshelf and Commerzbank will cooperate to arrange loans. Loan requests that have so far met the profile of Main Funders will be referred to creditshelf. With the potential borrower’s authorisation, creditshelf contacts the interested borrower and decides ‒ subject to the outcome of its review process ‒ whether the respective loan project will be placed on its platform. If a loan project has been successfully arranged, Commerzbank in return receives a one-off commission from creditshelf. In 2019, the first year of the agreement,  an executed loan volume in the higher double-digit million range is targeted.

Dr. Tim Thabe, CEO of creditshelf, comments on the cooperation: “By the conclusion of this important agreement we further broaden our long-standing and good relationship with Commerzbank with very important aspects for us. We are entering a pilot phase that will lay the foundation for further banking cooperations. At the same time, the agreement has the potential to bring creditshelf’s executed loan volume to a new level.”

“The cooperation with creditshelf gives us, as the bank for German SMEs, the opportunity to further expand our broad range of financing products. We are offering an alternative for loan requests that have so far met the profile of Main Funders,” says Dominik Steinkühler, Divisional Head of Strategic Product Management & Digitalisation in Commerzbank’s Corporate Clients segment.

Cooperations with banks are an important pillar of creditshelf’s growth strategy, which targets a medium-term executed loan volume of EUR 500 million per annum.