Kreditech, a Hamburg, Germany-based enterprise credit rating platform, raised $40m in Series B funding.
The round was led by Värde Partners with participation from existing investors Point Nine Capital and Blumberg Capital.
The company intends to use the capital to launch in new markets.
Founded in 2012 by Sebastian Diemer and Alexander Graubner-Müller, Kreditech has developed a real-time platform that leverages big data and machine-learning algorithms to create consumer credit scores and allow retailers to make faster and better credit decisions.
Customers can apply for short-term and long-term loans, prepaid credit cards, and other financial products in countries all around the world.
The company currently employs over 140 people in offices in Mexico City, Sydney, Prague, Moscow, Warsaw, Barcelona and Ukraine and
It is hiring.