Online Mortgage Rates? Ooh-la-la...

It didn't take long for Meilleurtaux to prove to reluctant French banks that its service would pay off

When Paris-based online mortgage broker Meilleurtaux launched in 1999, founder and chief executive Christophe Crémer had a hard time convincing banks to work with him. Though similar sites in the U.S. such as E-Loan (BPOP) had long enjoyed success, bankers across the Atlantic were skeptical Meilleurtaux (French for "best rate") would take off. Crémer forged ahead anyway—and soon racked up the numbers to sway any disbeliever. "I showed them the site was getting over 40,000 applications a month and that it wouldn't be profitable for them not to work with us," he says.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.