Creditshelf affected by bankruptcy of Amsterdam Trade Bank

Amsterdam Trade Bank has gone bankrupt and was Creditshelf's most important partner. The fintech now needs a new refinancing 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 credit 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.

According to Creditshelf, the original 60 million euros have already been fully invested. It is expected that the existing loans will continue to be serviced. However, it is not known how much of the additional 60 million has already been drawn down and invested. "We are in close contact with ATB to discuss the next steps," Creditshelf told Finanz-Szene. Creditshelf would like to discontinue any future cooperation with Amsterdam Trade Bank beyond the 120 million euros.

It remains to be seen what will happen next. According to Finanz-Szene, there could be a funding gap in the fintech's SME loans. This could hamper Creditshelf's planned growth if no new refinancing partner is found. For the current financial year, the fintech has so far forecast sales of ten to twelve million euros and is also aiming to break even.