Sales shock for Creditshelf

The fintech has to revise its annual forecast for 2022 downwards. Millions are at stake.

The financing platform Creditshelf had to revise its annual forecast downwards again shortly before the turn of the year. Daniel Bartsch, CFO of the company, now only expects turnover of six to seven million euros. The original forecast was seven to eight million euros. This is also likely to have an impact on profits, which will probably turn into a loss. Bartsch is expecting a loss of one million euros, according to the Finance Magazine reports.

In a press release, Bartsch explains: "Due to delays in the implementation of downstream conditions of a concluded refinancing facility (...) this facility cannot yet be utilized as planned." This has consequences for Start-up, which the CFO explains as follows: "As a result, the processing of some of the new business originally planned for this year on the basis of contracts already brokered will foreseeably be postponed until next year." He will therefore no longer be able to post revenue in 2022, but probably in 2023.

The fintech is therefore ending the year significantly worse than originally expected. In the first quarter, the company was still in the black. In the spring, Creditshelf said it would generate revenue of ten to twelve million euros, but the company later had to revise its forecasts downwards for the first time, and then the next setback came at the end of December.