Debt provider Kreos funds PE-backed Kreditech

The funding comes from Kreos's recently closed €240m vehicle, Kreos Capital IV Growth Debt Fund.

Kreditech is currently operating in Germany, Poland, Spain, Czech Republic and Russia, and will use the fresh capital to expand to Mexico and Australia. The capital will also be used to secure Kreditech's position in current markets.

Kreos started committing capital from Kreos IV in the second quarter of 2012, providing €150m to 40 companies to date. Kreos aims to invest up to €15m in a single transaction – and in several cases €20-30m of total funding.

Blumberg, Point Nine and H2 took part in a growth financing round for the business in April this year.

Previously, Kreditech received funding in December last year, with a $4m investment by Blumberg, Point Nine and an unnamed German investment bank.

The firm is also backed by the Samwer brothers' start-up fund, Global Founders Capital.

Kreditech is a B2C firm that provides real-time scoring technology. The firm has offices in Hamburg, Warsaw, Barcelona, Moscow, Prague, Mexico City, Sydney and Kharkov and employes 65 staff.

Sebastian Diemer is CEO of Kreditech while Javier Pimentel is Kreditech's head of internationalisation.

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• Kreos Capital