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August 1, 2017

BNI signs €15m deal with Creditshelf to fund German SMEs

By Saad Ahmed

Banco BNI Europa has signed a deal with online business financer Creditshelf to invest up to €15m (£13.4m) on the platform to fund German small and medium-sized enterprises (SMEs).

The Portuguese online challenger bank signed this deal fresh from recent agreements with Market Invoice and p2p platform Raize. This year, BNI Europa returned to profitability, achieving €2.6m profit in the first half of this year.

BNI Europa’s partnership with Creditshelf will begin with an initial investment in the existing loan portfolio, increasing by up to €2m each month until €15m.

Pedro Coelho, executive chairman of BNI Europa, said: “Investing in loans to medium-sized companies based in Germany is a very attractive class of investment to us.

“The expansion of our investor base has seen our financing commitments rise well above €100m, allowing us to guarantee the rapid provision of funds to our medium-sized customers.”

Creditshelf is based in Frankfurt, and offers corporate financing to medium-sized businesses. It was founded a year and a half ago, and counts former Standard & Poor’s analysts amongst its staff.

Daniel Bartsch, managing director of Creditshelf said: “We are delighted at finding another institutional investor for our platform, who is totally persuaded by the attractive risk-return profile of our product.”

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