Vereinigte Volksbank Raiffeisenbank eG (VVRB) and creditshelf AG have announced a cooperation agreement to provide access to capital for German SMEs.
According to a note from creditshelf, the partnership agreement will see corporate customers of Volksbank gaining access to credit services provided by creditshelf. The relationship is expected to help Volksbank expand its offerings while boosting its banking ecosystem.
For creditshelf, this cooperation is another step reinforcing the company’s multilateral sales strategy.
Dr. Daniel Bartsch, founding partner and COO of creditshelf, commented:
“We are looking forward to working with VVRB. The entire team of Volksbank is extremely innovative, creative and open-minded towards new ideas and products. Especially now, when the German economy needs to look towards the future, innovative solutions and partnerships are a necessity to ensure the availability of sufficient capital to finance innovation and growth. This significant collaboration in the cooperative sector, together with the partnerships already established, illustrate that digital platforms are an important addition to the financing mix of German SMEs.”
Ralf Magerkurth, CEO of Vereinigte Volksbank Raiffeisenbank eG, added:
“An ecosystem approach to banking is an integral part of our identity. We are happy to have found another partner in creditshelf that fits into this equation. The SME corporate banking business in particular holds a lot of potential for digital and innovative solutions. Through this new partnership, we can offer our customers a meaningful, complementary financing solution.”
creditshelf, founded in 2014, facilitates unsecured loans of up to €5 million with terms of up to eight years. creditshelf’s digital platform utilizes risk analytics, digital processes, and data-driven decision-making. creditshelf has been listed on the Frankfurt Stock Exchange’s Prime Standard segment since 2018.