TRY FOR FREE

PayU Invests EUR 110M Into Kreditech – Largest Ever Fintech Investment Round in Germany

PayU and Kreditech agree to global partnership to increase access to credit services in high growth, emerging markets

Hamburg, 10 May 2017 – Kreditech, the leading technology group for digital consumer credit using machine-learning based underwriting, has closed EUR 110 million in investment from global online payment service provider PayU.

The landmark investment is the largest ever equity investment in a German FinTech company and builds on a successful 12-month pilot program in Poland.

As part of the deal, Kreditech and PayU have agreed to a global partnership to deliver a joint proposition for point-of-sale finance. The agreement combines PayU’s strong international footprint with Kreditech’s unique technology to bring innovative credit services to underbanked markets around the world. Kreditech will expand its Lending as a Service (LaaS) offering and deliver its unique AI and machine-learning credit underwriting and loan management technology to PayU’s 300,000-strong network of merc ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 30 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.

RECOMMENDED