Blumberg Capital et al. invest $4m in Kreditech

The investors joined existing backers including Michael Brehm (founder of studivz), Heiko Hubertz (founder of Bigpoint), Felix Haas (founder of amiando) and H2 Investments, who invested in the business earlier in 2012.

The funds will be used to scale the business in Poland and other European markets in order to break even in Q1 2013, according to Kreditech CEO Sebastian Diemer. The company also plans to launch its B2B product "Scoring as a Service" internationally in 2014.

Company
Kreditech is a real-time scoring technology provider that applies big data analysis to credit applications made by individuals. The software scores information such as location data (GPS, micro-geographical), social media data (Facebook "Likes", friends, locations, posts), behavioral analytics (movement and length of stay on the webpage), e-commerce shopping behavior and device data (apps installed, operating systems).

The technology is applied in B2C markets for issuing micro-loans in real time as well as for the establishment of a global database that provides scoring data without technical integration or contractual obligations to third parties.

Kreditech is headquartered in Hamburg with further offices in Warsaw, Barcelona and Kharkov. The company was founded in 2012 and employs 13 people.

People
Jon Soberg is a managing director at Blumberg. Pawel Chudzinski led the investment for Point Nine Capital.

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