Kreditech
Kreditech was a fintech company that specialized in providing digital lending solutions to businesses. It aimed to revolutionize the business loan process by leveraging cutting-edge data analytics, artificial intelligence (AI), and machine learning to offer faster, more accessible financing. Kreditech provided quick and easy loan approvals, flexible loan options such as short-term loans, working capital loans, expansion loans, and invoice financing. Their data-driven credit scoring system evaluated a broader set of factors than traditional banks, enabling financing for businesses with limited credit history. Funds were disbursed quickly, and repayment terms were customizable. While Kreditech is no longer operational, its innovative approach to digital lending, which focused on speed, efficiency, accessibility, technology, and flexibility, significantly impacted the business loan landscape and continues to inspire the fintech sector.
Kreditech
Kreditech was a fintech company that specialized in providing digital lending solutions to businesses. It aimed to revolutionize the business loan process by leveraging cutting-edge data analytics, artificial intelligence (AI), and machine learning to offer faster, more accessible financing. Kreditech provided quick and easy loan approvals, flexible loan options such as short-term loans, working capital loans, expansion loans, and invoice financing. Their data-driven credit scoring system evaluated a broader set of factors than traditional banks, enabling financing for businesses with limited credit history. Funds were disbursed quickly, and repayment terms were customizable. While Kreditech is no longer operational, its innovative approach to digital lending, which focused on speed, efficiency, accessibility, technology, and flexibility, significantly impacted the business loan landscape and continues to inspire the fintech sector.
TL;DR
Founded: 2012 in Hamburg, Germany
Core offering: Big-data and machine-learning credit scoring and consumer micro-loans
Notable financing: Series B $40M (2014); Series C ~$92–103M (2015–2016); €110M strategic financing from PayU (2017)
Total reported funding: Approximately $92.7M reported in one source; other reports aggregate higher totals including strategic financing
Employee count (snapshot): 50
Company Overview
Problem Domain
Underwriting and access to consumer credit for underbanked populations in emerging markets.
Founded
2012
Industry
Fintech
Funding Track Record
$4M
Early venture round reported in 2012
$15M
Debt facility to expand lending operations
$40M
Series B to broaden products and expand into new markets
$92M
Series C reported at €82.5M (~$92M); later reporting indicates total Series C reached $103M including an $11M IFC tranche in 2016
€110M
Strategic financing/strategic investment reported in 2017