Swiss fintech Teylor is currently very active in the German market. Following the recent move to acquire Grenke’s factoring division, the Zurich-based company has now entered into a partnership with LBBW. The digital lending specialist announced that LBBW’s subsidiary BW Bank will use the platform in the healthcare sector.

The healthcare industry and other vertical markets are increasingly coming into focus for banks and alternative lenders. With tailored offerings, they aim to meet these sectors' specific needs. This is also the goal of Teylor’s partnership with LBBW. According to a survey by the Hartmannbund last year, 65 % of physicians surveyed would like digital application processes, particularly for setting up practices or investing in equipment. With the new portal, BW Bank aims to meet this demand and streamline the path to financing.

The integration is being handled via the B2B division, Teylor Technologies, which specialises in digitizing lending processes in corporate banking. Application workflows, credit assessments, document management, and back-office processes are being digitized and made available as modular components for integration into existing banking infrastructure. Pilot projects with BW Bank have shown that processing efforts can be significantly reduced, according to the Swiss firm.

With the acquisition of Grenke’s factoring business, Teylor is also initiating a stronger internationalisation strategy. The acquisition expands the Swiss platform into six additional countries: in addition to Germany, this includes entities in the UK, Ireland, Poland, and Hungary, as well as locations in Portugal and Italy. To date, around 1 billion euros in loans have been issued through Grenke’s factoring division. Going forward, this business will be managed through a newly established special-purpose vehicle that pools receivables and syndicates loans to the market. All approvals for the transaction are expected to be in place later this year.

According to Teylor, the acquisition does not require a capital increase. The company reportedly has sufficient cash reserves, and its existing business is already generating solid cash flow. For the acquisition and post-merger integration, Teylor is being advised by White & Case and A & O Shearman. Rothschild & Co was also involved and remains an important partner for strategic projects, the company said in its statement.

Patrick Stäuble, founder and CEO of Teylor AG, stated that the transaction brings the company closer to its goal of providing small and medium-sized enterprises (SMEs) across Europe with „easy and bureaucratic-free access to a full range of financing solutions.“ The platform will now expand into new markets with its full financing offering, creating the potential for significant growth synergies. Teylor is now positioned to serve 15 million SMEs, said Stäuble.