Kreditech

FOUNDING YEAR: 2012
LOCATION: Germany
Last Update: 03/09/2020

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About

Kreditech offers credit scoring and online financial services to users by leveraging big data. It furthers fuses big data with complex machine-learning algorithms to underwrite and create a digital banking services for the unscored worldwide. It further offers personalized financial products that are tailored as per the customer’s needs.

MEDICI Analysis

Kreditech offers credit scoring and online financial services to users by leveraging big data. It furthers fuses big data with complex machine-learning algorithms to underwrite and create a digital banking services for the unscored worldwide. It further offers personalized financial products that are tailored as per the customer’s needs.

Focus

PRODUCTS & SERVICES

Kreditech, through its proprietary credit decision engine, helps the underbanked population to determine their creditworthiness, thereby enabling them to avail loans. It provides access to credit for people without any credit history. It leverages artificial intelligence and machine learning to score a customer and determine credit risk by analyzing up to 20,000 data points per application.

REVENUE MODEL

Credit Karma earns money through referrals fees from their financial partners. It also generates revenue through advertisements.

MAIN CLIENTS

Retail customers

EXISTING PARTNERSHIPS

Banks and lenders

COMMENT

Kreditech offers a “credit as a service” model, allowing partners to integrate its credit products as payment method or funding source. The company uses machine learning to analyze the non-traditional data to provide financing options such as loans, PFM, and digital wallets to underbanked communities.

Traction

VALUATION / MARKET CAP:

$867.36 M in 2017

OTHER INFO:

The company acquired Kontomierz a Banking API that allows extracting financial data from bank accounts during the credit approval process.

TRACTION COMMENT:

Kreditech has processed more than three million loan applications through its subsidiaries(Jan 2017).

People

BOARD MEMBERS AND ADVISORS

Alexander Müller

Sebastian Diemer

NUMBER OF EMPLOYEES

201-500

INVESTORS:

10x Group

121WATT

Amadeus Capital Partners

Blumberg Capital

Digital Pioneers

Felix Haas

Global Founders Capital

H2 Investments

Heiko Hubertz

HPE Growth Capital

International Finance Corporation

J.C. Flowers & Co.

Kreos Capital

Michael Brehm

Nils Holger Henning

Point Nine Capital

Rakuten

Stefan Glaenzer

Värde Partners

Victory Park Capital

YoungBrains

KEY EMPLOYEES:

Jose Garcia

Oliver Prill

Alexander Müller

Jose Garcia

Oliver Prill

Alexander Müller

Jose Garcia

Oliver Prill

Alexander Müller

COMMENT:

Rene Griemens(CFO) is having more than 20 years of experience in corporate finance, strategy,general management at Citibank, McKinsey,in the tech industry,have managed over 70 financial transactions worldwide, including two IPO processes.

Momentum

FUNDED

YES

TOTAL FUNDING

$280.5 M

DATE OF LAST FUNDING

May 2017

SEED & PRIOR FUNDING

$1 M

SEED CLOSED ON

Jul 2012

SEED PRIOR FUNDING COMMENT

An undisclosed amount of fund were raised in 2012.

FUNDING SERIES

SERIES A  · $7.5 M  · Apr 2013

SERIES B  · $40 M  · Jul 2014

SERIES C  · $232 M  · May 2017

LISTED

NO

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Kreditech

About

Kreditech offers credit scoring and online financial services to users by leveraging big data. It furthers fuses big data with complex machine-learning algorithms to underwrite and create a digital banking services for the unscored worldwide. It further offers personalized financial products that are tailored as per the customer’s needs.

Focus

PRODUCTS & SERVICES

Kreditech, through its proprietary credit decision engine, helps the underbanked population to determine their creditworthiness, thereby enabling them to avail loans. It provides access to credit for people without any credit history. It leverages artificial intelligence and machine learning to score a customer and determine credit risk by analyzing up to 20,000 data points per application.

REVENUE MODEL

Credit Karma earns money through referrals fees from their financial partners. It also generates revenue through advertisements.

Traction

LIVE USERS/TRANSACTIONS:

No live users/transaction yet

People

NUMBER OF EMPLOYEES

201-500

KEY EMPLOYEES:

employee: Jose Garcia

employee: Oliver Prill

employee: Alexander Müller

employee: Jose Garcia

employee: Oliver Prill

employee: Alexander Müller

employee: Jose Garcia

employee: Oliver Prill

employee: Alexander Müller

TEAM COMMENT:

Rene Griemens(CFO) is having more than 20 years of experience in corporate finance, strategy,general management at Citibank, McKinsey,in the tech industry,have managed over 70 financial transactions worldwide, including two IPO processes.

BOARD MEMBERS AND ADVISORS:

Alexander Müller, Sebastian Diemer

INVESTORS:

10x Group

121WATT

Amadeus Capital Partners

Blumberg Capital

Digital Pioneers

Felix Haas

Global Founders Capital

H2 Investments

Heiko Hubertz

HPE Growth Capital

International Finance Corporation

J.C. Flowers & Co.

Kreos Capital

Michael Brehm

Nils Holger Henning

Point Nine Capital

Rakuten

Stefan Glaenzer

Värde Partners

Victory Park Capital

YoungBrains

Momentum

FUNDED

YES

TOTAL FUNDING:

$280.5 M

LISTED

NO

FUNDING SERIES

SERIES A  · $7.5 M  · Apr 2013

SERIES B  · $40 M  · Jul 2014

SERIES C  · $232 M  · May 2017