The company intends to use the funds to continue to grow operations with a focus on the geographic rollout and expansion of its product portfolio.
Founded in 2012 by Sebastian Diemer (CEO) and Alexander Graubner-Müller (CTO), Kreditech provides a technology platform, which uses big data gathered from 20,000 data points to feed its proprietary, self-learning, credit-scoring algorithm, to serve the estimated 4.0 billion unbanked and underbanked individuals worldwide.
Launched in February 2012, Kreditech has served two million consumers in nine countries. In June 2014, it had closed a $40m equity investment by Värde Partners at a $190m valuation. Other institutional investors include Blumberg Capital, HPE Growth Capital and Point Nine Capital.
The Group has a revenue run rate of $40m and a team of 220 passionate employees from 40 nations.