Swiss fintech startup Loanboox raises €20 million

Zurich-based startup Loanboox has landed a €20 million Series B funding round at a valuation of €110 million from several investors, including Deutsche Kreditbank AG and the LGT Group.

Loanboox has developed a platform for mediation of financing and investments for public corporations, banks, large companies and institutional investors. The company claims to have processed €17.5 billion in financing requests and boasts over 1,000 active customers.

Launched in 2016, Loanboox employs some 40 people in Switzerland, Germany, France and Austria. The company expects to achieve profitability by the end of 2021. It also mentioned that after the current funding round “the majority of shares remain in the hands of the founders and employees.”