EQS-News

creditshelf Aktiengesellschaft: creditshelf signs new secured financing facility and confirms profitability for the 2022 fiscal year

EQS-News: creditshelf Aktiengesellschaft / Key word(s): Development of Sales/Change in Forecast creditshelf Aktiengesellschaft: creditshelf signs new secured financing facility and confirms profitability for the 2022 fiscal year 08.11.2022 / 19:45 CET/CEST The issuer is solely responsible for the content of this announcement. CREDITSHELF SIGNS NEW SECURED FINANCING FACILITY AND CONFIRMS PROFITABILITY FOR THE  2022 FISCAL YEAR

• creditshelf sources up to EUR 100 million of secured financing for SME loans
• Addition of new financing source enables creditshelf to continue targeted growth path
• EBIT forecast for 2022 confirmed
• creditshelf to explore strategic options following closing of this transaction

Frankfurt am Main, November 8, 2022 – creditshelf, Germany’s next generations’ corporate financier, has entered into an additional secured financing facility. As part of the transaction, Goldman Sachs will provide up to EUR 100 million of secured funding for loans originated by creditshelf through its lending platform, supporting the needs of German SMEs.

The transaction will further strengthen creditshelf’s position as the largest non-bank financier of German SMEs. The German fintech will manage the credit value chain of all loans originated on its platform – from customer acquisition to risk analysis and loan structuring to loan servicing – while Goldman Sachs will provide secured debt financing against the loans.

Dr. Daniel Bartsch, creditshelf’s CFO, explains: "The transaction makes us very proud and is a great success for our corporate development. The additional funding source is an essential component of our growth strategy, enabling us to meet the ever-increasing loan demand of our SME client base."

Although these funds can be used immediately and support creditshelf's growth strategy, based on the new business expected for the remaining weeks of the 2022 financial year and the associated fees, the revenue forecast has been adjusted downwards from the previous EUR 10-12m to EUR 7-8m. Due to rigorous cost management, the EBIT is still expected to be between EUR 0-1m.