Berlin, 27.05.2020. Since April, medium-sized companies can apply for inventory financing independently of banks on labest.finance . With this new offering, the Hamburg-based fintech LABEST provides entirely new opportunities in the field of inventory and warehouse financing. LABEST has a cloud-based software that finally allows using inventory as collateral for businesses. The financing solution has already been successfully tested with banks in Germany and Austria in the past. Now, LABEST is also partnering with the alternative financing provider Maturus in Hamburg.
Additionally, the asset-based lending specialist, Maturus, is expanding its product offering with this collaboration. In addition to Sale & Lease Back, Maturus now offers loans where the working capital in the inventory serves as security. Through the partnership with LABEST, real-time digital analyses of the value of the working capital in the inventory are made possible. The requested financing solutions with a credit demand ranging from 300,000 euros to three million euros can be processed efficiently and quickly. The loans are provided by Maturus’ partner bank.
“With the collaboration with Maturus and our offering on labest.finance, we are expanding the range of services for our cloud-based financing solution,” emphasizes Dirk Piethe, founder and managing director of LABESTOnline GmbH. The real-time monitoring and valuation of the credit borrowers’ inventories provide lenders with the opportunity to assess inventory as security much more effectively than before. “For years, we have specialized in asset-based finance structures and offer sale & lease-back financing to the manufacturing middle market, focusing on their valuable, used, mobile fixed assets,” explains Carl-Jan v. der Goltz, managing partner of Maturus Finance. “With LABEST’s digital risk monitoring, we can directly monitor inventory at the launch of our new product, Asset Based Credit, and thus offer the middle market another bank-independent financing alternative.”
By taking just a few steps, companies now have the opportunity to indicate their financing needs through labest.finance and receive an initial assessment within 24 hours. The focus of the decision is on the value of the inventory rather than the traditional creditworthiness.
LABEST is a Hamburg-based startup founded in late 2016. Initially started as a SaaS provider for digital risk monitoring for banks and insurance companies, the solution now handles over 100 million euros in credit volume. The innovative cloud-based solution has attracted partners such as ERSTE Bank and other financial service providers in the DACH region. Responding to the growing demand for alternative financing solutions from small and medium-sized enterprises, LABEST redefined its offering for inventory financing in 2019, collaborating with competent financing partners. The company has received several accolades, including the KPMG SMART AWARD 2018, the weXelerate Fintech Award 2019, and was a participant in the Plug&Play Fintech Europe Network in 2019. In November 2019, LABEST was recognized for its innovative business model at the 9th Euroforum Annual Conference “Credit Processes of the Future.”
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