Creditshelf affected by bankruptcy of Amsterdam Trade Bank

Amsterdam Trade Bank is bankrupt and was Creditshelf's most important partner. The fintech now needs a new funding partner.

By Sophie Deistler

According to research by Finanz-Szene, the bankruptcy of Amsterdam Trade Bank (ATB) could also have a negative impact on the growth of the lending platform Creditshelf. Before the bankruptcy, the Dutch bank was the fintech's largest financing partner. In October of last year, Creditshelf had even announced that it would increase its loan volume with the bank from 60 million euros to 120 million euros.

Admittedly, the original 60 million euros have already been fully invested, according to Creditshelf. Presumably, the existing loans will continue to be serviced. How much of the additional 60 million has already been drawn down and invested, on the other hand, is not known. "We are in close contact with ATB to discuss further steps," Creditshelf told Finanz-Szene. Creditshelf would like to stop future cooperation with Amsterdam Trade Bank beyond the 120 million euros altogether.

What happens next remains to be seen. According to Finanz-Szene, there could be a funding gap for the fintech's SME loans. This could inhibit Creditshelf's planned growth if no new refinancing partner is found. For the current fiscal year, the fintech previously expected ten to twelve million euros in revenue and was also aiming to break even.