loanboox is a money and capital market platform for cantons, municipalities and institutional investors. Thanks to its services, municipalities are no longer required to engage a bank to find a lender when they require a loan to renovate a school, for example. With loanboox this can be done over the internet, leading to significant cost savings.
The platform went online in September 2016.
“At the turn of the year last year we had crossed the one billion mark. One year later and we’re already at 7 billion,” said Stefan Mühlemann, founder and CEO of the startup from the Greater Zurich Area.
The 7 billion Swiss francs are spread out across more than 500 financing applications. More than 800 organizations are active on loanboox: 600 cities, municipalities and cantons, and 200 institutional investors and banks.
loanboox was also able to successfully expand into a neighbouring country in 2017 and is now serving customers throughout Germany from its offices in Cologne.
“Interest is tremendous. We almost have to restrain municipalities somewhat to be able to finance all the applications,” said Andreas Frank, CEO of loanboox Germany.
loanboox plans to further expand its position on the German market in the coming months. According to Mühlemann, additional markets and products are also set to follow.
loanboox is financially well positioned to achieve its goals having successfully completed a Series A financing round in December. “Nothing stands in the way of further expansion in Europe,” writes loanboox.
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