6 Alternative Lending start-ups in Switzerland to watch out for in 2023

By Gloria Methri

The Lending industry is witnessing a major shift from traditional to new, unconventional lending models. New entrants such as FinTechs are seamlessly integrating lending with other ecosystems.

Alternative data is also gaining huge importance for decisioning, and new-age lenders are leveraging technology to make the process faster, more accurate, and more seamless. There are 47 Alternative Lending startups in Switzerland.

Here are 6 exciting alternate lending platforms to watch out for in 2023:

• ZoodPay

Founded in 2018, ZoodPay is an online platform for point-of-sale financing. Its solution enables users to purchase products and repay in monthly installments within the partnered network. Users can split the repayment period as well as the amounts. ZoodPay also offers a portal allowing businesses to offer ‘buy now pay later’ option to the end customer. Its application is available on Android and iOS platforms.

• Lend

Based in Zurich, LEND provides an online P2P lending platform for personal and business loans. The platform uses Swiss banks to transfer money and uses Swiss currency. It charges a fee for arranging the loan, managing the associated documentation, loan payment processing, and providing support to its members. Investors earn returns and borrowers benefit from low-interest rates.

• Teylor 

Teylor is a cloud-based lending solution for businesses. Its solution enables banks and financial institutions to automate digital lending for small and medium-sized businesses. The platform features a proprietary algorithm for credit scoring and also features a lender portal enabling businesses to apply for loans from financial institutions.

• Swisspeers

Winterthur-based Swisspeers is a P2P marketplace for business loans. It offers a platform that connects businesses with investors for loan products such as acquisition loans, working capital loans, commercial mortgage financing, and refinancing options with customized terms, amounts, and repayment options.

• Foxstone 

A crowdfunding platform for real estate projects, Foxstone allows investors to invest in residential buildings and real estate development projects located in Switzerland. The platform offers both equity-based and lc.

• CreditGate24 

Online P2P lending platform CreditGate24 offers business loans as well as personal loans. It connects borrowers directly with private and institutional investors. It offers investors to invest with a minimum amount of 500 CHF. Borrowers can avail the offer by providing their basic details.

Once approved and signed by the borrower, the project is posted on the platform. Once the project is fully funded, funds are disbursed to the borrower’s account.

ALSO READ: Global Lending Vendors & Landscape Report Q4 2022