IKB Partners With fundingport On Corporate Finance

IKB Deutsche Industriebank AG, which works in lending and public loans, will work with Hypoport subsidiary and corporate finance platform fundingport on corporate finance improvements, according to a press release. Hypoport is a tech-focused financial service provider.

As part of the deal, IKB will gain a 30 percent stake in fundingport.

With the partnership, IKB will set up a new sales channel, offering a “significant” amount of additional corporate finance deals through fundingport. IKB will also offer its expertise in credit processes and public program loans for the benefit of the cooperation.

Fundingport, meanwhile, plans to continue developing its platform, “particularly in the areas of project finance (renewable energies), corporate finance, subsidized loans and associated services during the loan lifetime (agency),” the release says.

Maria Starke, CEO of fundingport, noted that the partnership with IKB “means gaining a partner with strong links to the German MidCap sector, decades of experience and an excellent network.”

“IKB’s expertise in the field of public program loans is also very beneficial for the further technological enhancement of our platform,” she said, according to the release. “Our affiliated bank partners will benefit from the lending deals offered by IKB, which provide them with opportunities for additional high-quality business.”

Dr. Patrick Trutwein, who works on operations and transformation projects at IKB, said the joint venture “benefits from both companies combining their respective core competencies, notably so in the growing segment of platform-based corporate finance.

“Teaming up with Hypoport Group, a highly respected technology player, constitutes a core element of our digitization strategy,” he continued, according to the release.

Corporate finance has shifted during the pandemic. Ross Hampton, head of business development for the Americas at CaseWare, recently told PYMNTS that the shift of a corporate accountant from a number cruncher to a strategic advisor would now include finding ways to navigate the pandemic and plan for the future.