Kreditech secures $200m credit line from Victory Park

Harriet Bailey
23 January 2015

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Private equity-backed fintech company Kreditech has secured a $200m credit facility from US-based Victory Park Capital.

Kreditech stated the package comes ahead of its impending series-C funding round.

Chicago-headquartered Victory Park is an asset management firm focusing on credit facilities and private equity investments in mid-market companies.

Last week, Kreditech bolted on Polish fintech company Kontomierz in a deal worth €1-10m in cash and Kreditech shares. It plans to support the company's expansion in emerging markets.

Kreditech has raised more than $50m from investors including Blumberg Capital, Point Nine Capital, Värde Partners and Holland Private Equity. It also secured $23m in credit facilities from Kreos Capital in 2013.

The company was founded in Hamburg in 2012 by Sebastian Diemer and Alexander Graubner-Müller. It has developed its own scoring technology using 20,000 data points that rates consumers for credit in emerging markets. Kreditech generates turnover of $55m and has 220 employees. The company claims to be growing at around 70% per quarter.