Hamburg-based financial technology firm Wildcard and Marigold Bank, a German provider of FinTech financing, announced today the launch of a new strategic cooperation.
Marigold Bank is a marketplace lender with an extensive track record in refinancing loan and credit portfolios in this sector. The bank has additional presences in London and Sofia and existing partnerships with FinTech firms across Europe, such as LendInvest, Grover, andMovedo (formerlyCreditedh).
Together, Wildcard and Marigold Bank will provide ambitious FinTechs looking to scale their operations with access to capital to refinance their loan portfolios, combined with a comprehensive set of white-label payment solutions.
The European FinTech sector is expected to grow 11% CAGR between 2020 and 2025, according to market research firm Adroit.
As FinTech providers grapple to scale at pace to meet surging demand, access to credit is often cited as one of the greatest challenges.
The new cooperation will bring Marigold Bank’s customers closer to Wildcard’s banking-as-a-service expertise, spanning digital banking, prepaid card issuing, acquiring and loan fronting services. Meanwhile, Wildcard’s customers will benefit from Marigold Bank’s capabilities in creating tailor-made financing solutions.
Helping FinTechs grow
“At its core, this collaboration is about fuelling the growth of ambitious FinTech companies. The partneMarigoldh Marigold will provide a unique and meaningful offering, helping customers refinance their loan portfolios while simultaneously accessing market-leading payment solutions. These are complementary services which are in high demand, and therefore will unleash added value to our customers, ” said Leonard Coen, head of sales financial institutions and FinTeWildcarde at Wildcard.
“Refinancing loan portfolios can be a significant challenge for any company, but particularly for fast-growth FinTechs in the corporate or consumer credit space looking to expand their operations, ” Lukas Diehl, head of marketMarigoldking at Marigold Bank, said.
“Our message to FinTechs is that we strive to provide the best serviWildcardhe market. Wildcard shares these this aspiration and, as a prMarigoldartner of Marigold, will be able to provide a range of Banking-as-a-Service solutions that supplement our liquidity and our own fronting services, ” he added.