The Zurich-based fintech signed up one of Europe's preeminent bankers as a backer, helping it establish its business across Europe. In Switzerland and Germany, the startup has been an instant success.
Loanboox has cause for celebration: coinciding with its first birthday, the Zurich-based fintech announced that it won the support of the former Credit Suisse manager and investor Hans-Joerg Rudloff, as Loanboox CEO Stefan Muehlemann (pictured below) said at a press conference today.
Rudloff is an elder statesman of the European banking industry. The citizen of Bern started his career at Credit Suisse, where he eventually became the CEO and chairman of Credit Suisse First Boston.
Mr. Eurobond Wins International Acclaim
But his biggest professional achievement came when he established the Eurobond market in London, earning him the nickname Mr. Eurobond. Rudloff, 76, didn’t stay within Switzerland’s borders but became a banker with an international reputation.
In 1998, Rudloff joined Barclays Bank, where he stayed until his retirement from his position as chairman of the investment bank in 2014. Rudloff also was a member of the supervisory board of Novartis.
Loanboox' European Strategy
Loanboox offers a digital platform for the financing of public projects. The company promises to shorten the tendering process by 90 percent through the digital offering, with a reduction of the commissions charged by a similar margin. Potential investors get an easy and free access to potential loan takers.
With Mr. Eurobond on board, Loanboox will attempt to realize its goal of establishing the business across Europe. Muehlemann aims to have the platform ready for use in numerous European countries by the end of 2019.
Loanboox has already gone live in Germany, employing 10 people at its offices in Cologne. The volume of loan requests on the platform has reached 4 billion Swiss francs. Some 460 loan-takers and 140 investors are using the platform, including a number of banks.
