Varengold Bank AG and HandEX GmbH announced collaboration to optimise export financing for small and medium-sized enterprises. With a market share of around EUR 220 billion, small and medium-sized enterprises are responsible for approximately one fifth of German foreign trade. Although imports and exports keep reaching record highs, large banks refuse about every second request for financing on the grounds that they are too small and too costly to process. This makes it increasingly difficult for small and medium-sized enterprises to meet potential orders. The solution is called HandEX, an online credit platform for export financing from EUR 100,000 to EUR 5 million launched at the beginning of 2019.