According to CreditGate24, the total volume of the more than 1,000 loans financed to private individuals and small and medium-sized companies since its platform was founded in March 2015 is nearly 55 million Swiss francs. The fintech company now wants to test this success model in the German market and has already opened an office in Berlin.
There, CreditGate24 employees will examine incoming loan requests and present loan offers after just a few days to private individuals, self-employed people, and SMEs. According to the company, SMEs in Germany can apply for what’s known as an entrepreneur loan with CreditGate24 in the amount of 10,000 euros or more. The financing is provided by private and institutional investors.
Thanks to the CreditGate 24 model, investors benefit from an alternative to traditional investments, which are increasingly linked to negative interest rates. SMEs, on the other hand, are offered an alternative to loans from traditional institutions, whose regulations they often do not satisfy.