Teylor offers fully digital, fast and easy loans for German businesses. Applicants don’t need to go to the bank, use any paper or wait for a callback. The entire loan application can be completed from their home or office, using a computer or a smartphone. We discuss with Patrick Stäuble, CEO & Founder of Teylor the origins of the brand name, where the idea for Teylor came from, and how has the business evolved over time.
Can you tell us a little bit about yourself and how Teylor got started?
Before launching Teylor I worked for a Zurich-based Fintech, first as a product manager and later as Head of Business Development. During this time I dealt with many banks and noticed that there has been a lot of progress in digitizing private banking products and services, but almost no bank offers digital channels for corporate loans. That causes a structural problem in the SME lending market because manual processes result in slow processing times and high costs for SME borrowers, banks, and debt investors. The Teylor platform aims at solving this problem with digital technology.
How did you get the Teylor.com domain name? Was there an “aha” moment when you knew it is the one?
All our products are tailored to the specific needs of SMEs, banks, and investors. That’s where the name “Teylor” comes from. We first bought the Teylor.de domain because in the first year we had a sole focus on the German market. Soon after we also bought the .com domain, as we knew our future lies in being an international company. That’s already the case today: Among our software customers are several European banks and we are going to expand our lending business throughout Europe as well.
We first bought the Teylor.de domain because in the first year we had a sole focus on the German market. Soon after we also bought the .com domain, as we knew our future lies in being an international company.
Patrick Stäuble, CEO & Founder of Teylor
What value do you think Teylor.com brings to the Teylor brand?
German customers usually search for the “.de” domain, not necessarily “.com.” International customers primarily search for “.com.” So clearly it makes sense to have both if you have an English and a German page, which we do.
What was the vision and purpose of your company when it first started and how has Teylor evolved as a brand since?
We launched our platform in 2019 as a pure SME lending platform. It became an immediate success and our self-built technologies drew the attention of banks. We received several requests for our technology and then decided to offer them as a Software-as-a-Service solution. As our lending business expanded we developed a growing pipeline of strong German SME borrowers – the German “Mittelstand.” These loans are extremely attractive for debt investors but hard to access, because of the high costs and barriers to entry. That’s when we came up with the idea of the Teylor Debt Fund, to provide investors tech-enabled access to German SME loans. In terms of branding, we have developed from a pure lending platform to a comprehensive solution for all stakeholders of the SME lending market. That makes us unique and draws a lot of attention. We are regularly featured in leading German newspapers.
What do you do to make sure your marketing is effective?
Data is important. We plan, execute, measure, improve, measure again, improve again, and so on. You have to know what works and what doesn’t to allocate your funds to the right channels. Otherwise you just “do stuff” without knowing your return on investment.
What would your advice be to entrepreneurs who are just starting out?
Get your product to the market as soon as possible and see what feedback you get. Nothing is worse than building a product in the ivory tower, investing all your time and money, just to then find out that the market wants something completely different. So get into the market quickly, listen to feedback, and then keep improving.
Get your product to the market as soon as possible and see what feedback you get.
Patrick Stäuble, CEO & Founder of Teylor
What is next for Teylor?
We just closed a CHF 6.5 million funding round which we will use to scale our platform aggressively throughout Europe. That means expanding in new markets and also improving our technologies and adding more modules to our platform. Our goal is to become the largest European fintech lender and Europe’s leading provider of digital lending technologies.
Last thing, if some of our readers have more questions. Where can they reach you online?