HPE acquires 13% stake in Kreditech

HPE invests in technology companies in the German Mittelstand and Benelux.

Previous funding
Värde Partners led a $40m series-B round for the company in June this year, alongside Blumberg Capital and Point Nine Capital. The fresh funding was earmarked for expansion into new markets and to develop new financial products.

The latter two investors first invested in Kreditech in December 2012, when they took part in a $4m early-stage deal. In April 2013, they were joined by H2 Investments and Global Founders Capital in a new funding round worth around €5m.

Kreditech secured a $7m credit line from Kreos in September last year, which was later extended to $15m in January 2014.

Company
Hamburg-headquartered Kreditech has developed its own scoring technology that rates consumers for credit in emerging markets. It currently has operations in Australia, Poland, Spain, Czech Republic, Russia and Mexico and announced plans to expand into Peru and Brazil earlier this year.

Its software scores information such as location data, social media data, behavioural analytics, e-commerce shopping behaviour and device data in real time. Founded in 2012, Kreditech generates turnover of $25m and has 160 employees.

People
Hans von Ierland is CEO of HPE. Sebastian Diemer is founder and CEO of Kreditech.

Advisers
Equity – Freshfields Bruckhaus Deringer, Christoph Seibt, Alexander Glos, Börge Seeger, Adrian von Prittwitz, Daniel Resas (Legal).

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