Advanon Growth
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We are growing – Advanon Growth Story

The Advanon Growth Story: The first half of the year 2016 is over. During these six months Advanon has grown in every aspect. The total value of the financing processed over our platform every month has skyrocketed, our team has doubled from seven to fourteen team members, we have moved into a new office in the centre of Zurich and we have started cooperations with well-established companies.

Financing Volume

In the first half of 2016, the value of the financing processed over the Advanon platform totalled more than CHF 3 million. During the past half a year the monthly financed amount grew by 40% every month. In June alone, CHF 1.1 million were processed over our platform. The entire crowdlending market in Switzerland totalled CHF 3.5 million in 2015. This means that we processed a third of last year’s entire Swiss crowdlending market volume over our platform in June.

Financing Volume January-July 2016

 

Cooperations

In March this year, we launched another prefinancing platform (hypicash.ch) in cooperation with the Hypothekarbank Lenzburg. The platform caters especially to the business customers of the Hypothekarbank Lenzburg. The launch of a common platform attracted attention and lead to discussions with other interested banks. In June, we agreed to team up with a second, bigger bank for a similar partnership.

Team

Our team has grown quickly in the past six months.The size of our team has doubled from seven to fourteen highly motivated members. Nine of them work in Zurich and the remaining five work online, connected to us from around the world. The rapid growth of the team in Zurich made a relocation inevitable. Therefore, we are pushing ahead the disruption of the Swiss factoring market from our new (self-painted!) offices at Hardstrasse 301. We are very pleased that Eric Sarasin – former Deputy CEO of the private bank J. Safra Sarasin – has joined us as an investor and advisor. We are going to benefit greatly from his expertise in the financial sector.

We are proud or our growth in the first half of this year and we are doing everything we can to keep this pace in the second half of the year.

Outlook

The second half of 2016 is expected to be dominated by three major steps.

In cooperation with a Swiss bank, we are going to launch an additional pre-financing platform for SMEs. It is specifically geared to the needs of business customers of our partner bank. The platform will help us to strengthen and expand our market position in Switzerland.

We are very excited about our newly started “Project Nectar“. This innovative credit rating model based on real-time algorithms aims to analyse data from different sources. The goal is to bring our own rating on the market, which will have a lasting impact on the Swiss SME landscape. Previously, it used to be impossible to assess credit risks in real time independently of traditional rating methods. Project Nectar is a milestone for Advanon because it significantly increases the scalability of our business model. It helps us being ready for the next growth steps.

Later this year we planning to expand into the German market with our platform. Soon, German investors and SMEs are going to have access to our pre-financing platform and transactions in Euros will be enabled. This means that the market potential of our platform wil drastically expand in the near future. We are looking forward to this opportunity, although we are very well aware that this growth step is associated with major challenges.

We still have a lot ahead of us in 2016. The success story of the past six months shows that we are on the right track. We are motivated and ready to tackle the challenges ahead with plenty of confidence in order to keep on writing the Advanon growth story.

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Phil Lojacono

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