Consumer lending company focused on underbanked segment ranked 7th among leading fintech company worldwide and receives award as one of the fastest growing companies in Germany
Kreditech, the leading technology group for digital consumer lending using machine-learning based underwriting, is celebrating the acknowledgement of its rapid business growth: KPMG and fintech investment firm H2 ventures just ranked Kreditech 7th out of the top 100 leading international fintech companies. Kreditech is therefore one of the most influential and innovative fintechs worldwide – and the only German business included in the top 10 of the ranking. In addition, Kreditech was also recognized as “one of the fastest growing companies in Germany” by the German news magazine Focus and Statista, the leading German statistics portal. With its rapid growth between 2013 and 2016, Kreditech has been one of the most successful companies in the field of “IT, Internet, Software and Services”.
Revenue and customer base doubled
Since launching in 2012, Kreditech has grown significantly over the past five years and today counts more than 400 employees, serving more than 700,000 customers worldwide; a number which is up by more than 100% compared to 2016. This strong traction also reflects in the company’s revenue – having more than doubled in less than two years, from 21 million Euro in 2014 to more than 45 million Euro in 2016.
“Kreditech has gained a leading position in the global fintech market. We are not only proud of the tremendous growth our company is looking at. Obviously, our results and the acknowledgement we have been receiving proves that the demand for our services is very high across our markets around the world”, says Alexander Graubner-Müller, co-founder and CEO of Kreditech. “But what is even more important, is that Kreditech is succeeding in its mission to provide access to credit for people with little or no credit history: The underbanked.”
About the Studies
2017 Fintech100 Leading Global Fintech Innovators KPMG & H2 Ventures https://home.kpmg.com/au/en/
Focus Business Wachstumschampions 2018 by Focus Business & Statista Germany https://de.statista.com/
Kreditech Group’s mission is to improve financial freedom for the underbanked with the use of technology. Combining non-traditional data sources and machine learning, the company is aiming to provide access to better credit and a higher convenience for digital banking services. 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. Kreditech also offers a “Lending as a Service” model, allowing partners to integrate Kreditech’s credit products via an API into their own platform and services.
Founded in 2012 and headquartered in Hamburg, Germany, Kreditech covers more than 5 markets worldwide, amongst others Russia, Mexico, Spain and Poland. Up until now, the company has processed more than five million loan applications through its subsidiaries. Kreditech’s team of more than 400 people is led by CEO and Co-Founder Alexander Graubner-Müller and is financially backed by world-class investors including PayU (Naspers), J.C. Flowers, Peter Thiel, and the World Bank’s IFC.