A local fintech wants to serve German SMEs. It has allied itself with a well known open bank in the neighboring country.
The Germany offensive is carried out by the Zurich startup forge Impact Hub. The local fintech Teylor launches on Friday. Which is in the neighboring country with corporate loans and its own digital credit platform.
The startup company will be supported by the Berlin based Solaris Bank. It is one of the first and most well known providers of open banking in the neighboring country. Together, the partners have developed an application process. According to their own information, with the help of the application companies can calculate their credit terms without obligation within ten minutes. Loans of up to € 250,000 will be paid out within two working days after the required checks, as it was said.
Also addressed to banks
Teylor addresses the service to German SMEs. Where the fintech believes they recognize an enormous funding gap. And 99 percent of all companies in Germany belong to this stock. But according to Teylor they are neglected by traditional banks due to the complex lending processes.
About the startup
The startup was founded in 2018 by Patrick Stäuble and is licensed as a credit broker in Germany. Stäuble had previously worked for the well known Swiss Fintech Numbrs and for the Swiss Army as a KFOR observer in Kosovo. In addition to providing direct credit, the company provides banks with a licensed software as a service version of the technology.
Also published on Medium.