IFC adds €10m to Kreditech's series-C

The startup held the first closing for its latest round in September 2015. Led by JC Flowers, with participation from Peter Thiel, Amadeus Capital, Värde Partners, Blumberg Capital and HPE Growth Capital, the investors provided €82.5m. The investment by Peter Thiel and Amadeus Capital was initially provided as a bridge loan at the start of the year, but was converted to equity later on.

The fresh capital will mainly be used for Kreditech's new Monedo platform, which provides both credit and digital banking products to consumers in emerging and developed markets underserved by traditional banks.

Previous funding
In December 2014, Holland Private Equity (HPE) acquired a 13% stake in Kreditech from a consortium of seed investors and business angels.

Värde Partners led a $40m series-B round for the company in June 2014, 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 2013, 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, the 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 $41.3m and has 200 employees.

People
Kreditech - Alexander Graubner-Müller (CEO and co-founder).
IFC - Kai Schmitz (principal investment officer).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Technology
• Germany
• Venture