This project finances an equity investment in Kreditech Holding SSL GmbH, an online, technology-enabled consumer lending platform based in Hamburg, Germany that uses predictive data analytics and a machine learning algorithm to assess the creditworthiness of consumers without an existing credit bureau score, in order to extend credit to those who do not have access to traditional financing options.
Kreditech is seeking to raise up to EUR 100 million of equity capital to fund operations and expansion into other emerging market countries. IFC is considering an investment of up to EUR 10 million in the Series C equity round.The project sponsors are Alexander Graubner-Mueller (Co-Founder & CEO) and Sebastian Diemer (Co-Founder), who co-founded the Company in 2012. Alexander was originally the Company’s CTO. He is a software engineer, with previous experience as CTO of Rocket Internet’s South East Asia operations. Prior to that, he was an algorithm-trading and financial engineer at LGT Capital. Sebastian is the ex-CEO of Kreditech, who continues to hold a Board Observer seat, but no longer has an active management role. Additional key shareholders include J.C. Flowers, a New-York headquartered financial services focused private equity fund; Varde, a Minnesota headquartered global alternative investment firm; Blumberg Capital, a San Francisco headquartered venture capital fund focused on early-stage opportunities in the technology sector; and HPE Growth Capital, an Amsterdam headquartered growth private equity fund focused on the technology sector.
Kreditech is an online, technology-enabled consumer lending platform based in Hamburg, Germany. The Company uses predictive data analytics and a machine learning algorithm to assess the creditworthiness of consumers without an existing credit bureau score, in order to extend credit to those who do not have access to traditional financing options. Kreditech currently extends loans to consumers primarily in Poland, Spain, Czech Republic, Russia, and Mexico.
Principal Investment Officer
International Finance Corporation
The World Bank Group
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