Commerzbank launches marketplace lending platforms for SMEs
23 June 2016 | 8898 views | 1
Germany's Commerzbank is launching an online marketplace lending platform that lets small and medium-sized businesses pitch to investors.
The platform, called Main Funders, will let Commerzbank's SME customers present proposals to borrow between EUR200,000 and EUR10 million to potential investors among the bank's institutional clients.
Commerzbank says that the service will help small firms get access to another source of funding while also benefitting institutions looking for stronger investment returns. The bank will review deals to ensure "fair conditions" and take a commission.
"Main Funders combines the competencies and long-standing experience of an established bank with those of an agile and innovative start-up,” says Birgit Storz, divisional head segment management and development for Mittelstandsbank at Commerzbank.
"We are utilising our client network, our banking know-how, and our tried-and-tested processes - which also have supervisory authority approval. At the same time, Main Funders is based on a user-friendly platform, which is easily accessible through the corporate client portal."
Last week Rabobank outlined a similar plan to run trials of P2P lending, connecting high net worth customers with businesses in need of financing.