DGAP-News creditshelf: Q1 2021 strongest quarter in company history
DGAP-News: creditshelf Aktiengesellschaft / Key word(s): Quarter Results
creditshelf: Q1 2021 strongest quarter in company history
Frankfurt am Main, April 12, 2021 ‒ creditshelf, the leading credit platform for digital SME finance in Germany, in the beginning of 2021 recorded the strongest quarter in the company's history. The development of creditshelf's loan business is reflected in the following numbers:
- creditshelf increased its arranged loan volume in Q1 2021 by 224% to EUR 37.6 mn (Q1 2020: EUR 11.6 mn), recording the so far best quarterly performance in the company's history.
- Growth based on a balanced mix of new and existing customers.
- At EUR 357.1 mn, the volume of requested loans was lower than in the prior-year quarter (EUR 500.0 mn), which had been strongly influenced by high requested loan volumes as a result of the uncertainty at the beginning of the coronavirus pandemic.
- High quality of requests due to focused marketing approach and growing network of partners.
- The outstanding loan volume grew significantly to EUR 129.2 mn as of March 31, 2021 (March 31, 2020: EUR 82.1 mn).
- The average term of arranged loans was to 27.4 months in Q1 2021 (Q1 2020: 24.9 months).
- The average volume-weighted interest rate on the arranged loans was 9.0% in Q1 2021 (Q1 2020: 9.2%).
Dr. Tim Thabe, CEO of creditshelf, stated:
"Our strong performance at the beginning of this year shows that our business model is working and that we have been able to accelerate our growth despite the ongoing crisis. Supported by the institutional financing partners we onboarded in the previous year, we are serving the high financing needs of the German SME sector - Needs which are not fully covered by banks or government aid programs. With such a great beginning to the year, I am very confident about our growth path in 2021."