MICROCAPITAL BRIEF: Germany’s Kreditech Raises $15m in Debt from Kreos Capital for Lending in Eurasia, Latin America

Kreditech, a German technology company that uses an online platform to assess the creditworthiness of loan applicants, recently announced that it has raised USD 15 million in debt financing from UK-based venture capital firm Kreos Capital (Kreos). Kreditech intends to use the new capital to finance its current lending operations in the Czech Republic, Mexico, Spain, Poland and Russia. The company has also made public its intention to raise an additional USD 20 million to USD 30 million in the first half of 2014 to expand its business into Australia, Brazil and Peru.

Kreditech employs approximately 100 people and has satellite offices in Australia, the Czech Republic, Mexico, Poland, Spain and Ukraine. It offers “short- and long-term” loans ranging in size from EUR 50 (USD 68.8) to EUR 2,500 (USD 3,440) as well as prepaid credit cards and other financial products. Financial data on the firm are not available.

Kreos offers debt and equity financing between EUR 15 million (USD 20.6 million) and EUR 30 million (USD 41.3 million) to growth-stage companies operating in the European Union and Israel. Financial data on the company are not available.

By A’kos Szebeni, Research Associate

About Kreditech

Kreditech is a Germany-based technology company that was founded in 2012 and uses an online analytical platform to assess the creditworthiness of loan applicants. The company employs approximately 100 people and has satellite offices in Australia, the Czech Republic, Mexico, Poland, Spain and Ukraine. It offers “short- and long-term” loans ranging from EUR 50 (USD 68.8) to EUR 2,500 (USD 3,440), as well as prepaid credit cards and other financial products. Financial data on the firm are not available.

About Kreos Capital

Kreos Capital is a UK-based venture capital firm that offers debt and equity financing to growth-stage companies operating in the European Union and Israel. Kreos typically invests between EUR 15 million (USD 20.6 million) and EUR 30 million (USD 41.3 million) throughout the life of its portfolio companies. Kreos is headquartered in London, UK, and has satellite offices in Tel Aviv, Israel, and Stockholm, Sweden. Financial data on the firm are not available.

Sources and Additional Resources:

Kreditech Press Release, “Kreditech Raises 15 million USD Debt from Kreos Capital,” https://www.kreditech.com/press/releases/kreditech-raises-15-million-usd-debt-from-kreos-capital/

MicroCapital, March 25, 2014, “First Access Purchases Data for Risk-Scoring Service from Cellular Network Provider Vodacom Tanzania,” https://www.microcapital.org/microcapital-brief-first-access-purchases-data-for-risk-scoring-service-from-cellular-network-provider-vodacom-tanzania/

MicroCapital, March 19, 2014, “US-based Startups First Access, Cignifi Analyze Mobile Phone Usage to Measure Creditworthiness of Unbanked,” https://www.microcapital.org/microcapital-brief-us-based-startups-first-access-cignifi-analyze-mobile-phone-usage-to-measure-creditworthiness-of/

MicroCapital, May 14, 2013, “Inter-American Development Bank Promotes Psychometric Testing for Screening Loan Applicants,” https://www.microcapital.org/microcapital-brief-inter-american-development-bank-promotes-psychometric-testing-for-screening-loan-applicants/

MicroCapital Universe Profile: Kreditech,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kreditech

MicroCapital Universe Profile: Kreos Capital,
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Kreos+Capital

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.

Similar Posts: