Kreditech raises €82.5m series-C

Peter Thiel and Amadeus Capital also participated in the round. Earlier this year, they provided a bridge loan that has now been converted to series-C equity.

Värde Partners, HPE Growth Capital and Blumberg Capital are also existing backers that committed to this new round.

Kreditech states that it is still working on the final close, which might bring the funding round to more than €100m. The company stated its cumulative equity and debt funding amounts to €300m, of which €160m is made up of unused debt facilities.

Previous funding
Holland Private Equity acquired a 13% stake in Kreditech from a consortium of seed investors and business angels in November 2014.

In June 2014, Värde led a $40m series-B round for the company, alongside Blumberg Capital and Point Nine Capital. The latter two 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.

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 has announced plans to expand into Peru and Brazil.

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 200 employees.

People
Sebastian Diemer is co-founder and CEO of Kreditech. Loren Felsman is managing director at JC Flowers. Andrea Traversone is a partner at Amadeus.

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