Teylor, a Swiss SME lending technology startup, successfully closed a financing round of CHF 8 million.
The significant increase in demand for digital banking solutions brought on by the Covid-19 pandemic accelerated Teylor’s growth and allowed the company to successfully close the financing round with existing and new investors in early May 2020. The company will use the funds to expand its lending and software business throughout Europe and to solidify its position as one of the leading technology providers in the SME banking segment.
Founded in 2018 in Zurich, Switzerland, by CEO Patrick Stäuble, Teylor develops fully digital credit solutions for small and medium-sized businesses and provides a licensed version of its technology to banks. Using Teylor’s Software-as-a-Service (“SaaS”) products allows banks to completely digitalise and automate every aspect of their SME lending business, from customer onboarding to anti-fraud to scoring.
The investors behind Teylor include institutional investors such as the Munich based VC WENVEST Capital and Steinbeis, a platform for company startups, well-known private investors, such as Patrick Zbinden, Global Co-Head and CEO Switzerland at EFGAM, as well as other angel investors, family offices, and institutional investors from Switzerland, Germany, and Israel. A team from Walder Wyss Ltd, led by Boris Räber, has advised Teylor on all legal aspects of the transaction.
Patrick Stäuble, Founder and CEO of Teylor AG, says:
“We believe that there is a massive opportunity in the SME lending market today for lenders and technology providers such as Teylor. The fact that we were able to successfully close the financing round in the middle of a pandemic and economic crisis shows that our investors firmly believe in this vision. Thanks to the hard work and outstanding performance of our team, we have been able to bring a product to market that is in high demand by both lenders and borrowers. I believe the changes in the market brought on by the COVID-crisis, combined with the new capital we now have available, will pave the way for us to become one of the leading players in the European SME lending market in the coming years.”
Teylor will use the additional funds to further expand its operations in Germany and Europe, onboard more banking clients to the Teylor SaaS product (Teylor Lending Cloud) and grow Teylor’s market share. In addition to loans financed by various bank partners, Teylor will use part of the funds to begin financing loans itself through its own debt vehicle.
To support its expansion, Teylor plans to open an office in Berlin this year and to launch in two other European countries. The company currently employs 20 staff and is looking for additional credit-, sales- and IT-experts to join its growing team.
Featured image: Patrick Stäuble, Founder and CEO of Teylor AG
Quelle: Bitcoin News