Kreditech Raises €10M in Funding
Summary
Kreditech, a Hamburg, Germany-based fintech company providing consumer financial services, raised €10m in funding.International Finance Corporation (IFC), part of World Bank Group, made the investment, which brought the Series C round to a total of €92.7m, with participants including J.C.Led by Alexander Graubner-Müller, CEO and co-founder, Kreditech combines non-traditional data sources and machine learning to score, underwrite and payout to underbanked people, those with little or no credit history.The product offerings include consumer loans, a digital wallet and a personal finance manager designed to help customers manage their credit score and plan their spending.To date, the company has raised €314m in equity and debt and processed almost three million loan applications in its subsidiaries.
Funding
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