Two finance specialists have launched FinLoop, an online tech platform which matches borrowers and lenders and also provides loan management software.
Founders Thomas Schneider and Nicole Lux say the software has an existing network of 5,000 developers, investors and lenders after its beta phase, and has undertaken €200 mln of transactions.
Users are able to source lenders or borrowers entirely online, and manage the loan structuring, negotiation and closing process. All documents are archived so that loan servicers can be connected, and refinancing can be done at any point in time with all previous documents in one place.
There are also several integrated communication options from email to video. The software is SaaS-based.
Both founders have extensive banking experience. Most recently Schneider was at BrickVest, an online platform for matching equity real estate deals and investors, which he co-founded.
Lux, who is COO at the new FinLoop company, will also continue with her role as the lead on the Business School (formerly Cass) UK Real Estate Lending survey which comes out twice a year.
Several large German investment managers are principal investors in the new FinLoop business, as well as being among the founder borrowers.
Schneider said: ‘We believe that the real estate industry was missing one integrated software platform that provides not only a marketplace but a loan management tool. FinLoop delivers this in a single platform that is powerful, yet simple to use.’
BrickVest was acquired last year by Patrizia. It was put up for sale after several subsidiaries went into administration late in 2019.