A Swiss loan broker startup has received a license to offer an extended range of services in Germany. The fintech hopes to broaden its reach and work more closely with the banking industry.
Loanboox, a Zurich-based fintech led by CEO Stefan Muehlemann, has received a new license in Germany, according to the «Private Banking Magazin» (report in German). The new license will allow the company to provide a broader range of financial services.
The company extended its portfolio of services in the segment of financing and the recipients of loans. Loanboox aims to work more closely with banks. Loanboox aspires to develop into a global marketplace for major borrowing deals.
Fast Growth Rate in Germany
In a next step, its aims to make its services available in countries of the European Economic Area thanks to European Union passporting rules.
The company at the end of 2019 had 2,200 clients in Switzerland, Germany, Austria, Liechtenstein, France and the Netherlands. The fastest rate of growth was achieved in Germany, Europe’s biggest economy.
