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Kreditech Acquires Kontomierz for “Seven Digit Amount”

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With a growth rate of 500% per year and a vision to serve 4 billion underbanked individuals across the globe, Kreditech has a lot on its plate.

Fortunately, the Hamburg-based company announced today it acquired Kontomierz for a “seven digit amount plus Kreditech shares.” The actual amount is undisclosed.

Kontomierz is an attractive purchase. Its KYC technology, Kontomatik offers an API to banks that gives read-only access to customer accounts. Additionally, it has net revenues around 1 million Euros, three digit annual growth, and counts Alior Bank and Idea Bank as clients. Sebastian Diemer, Kreditech founder and CEO explains further:

“With its technology Kontomierz enables us to get unique data in real-time. Our subsidiary companies will hence provide an even better banking service to a bigger target group, the unbanked and the underbanked individuals. A perfect marriage, indeed.”

The 16 Warsaw-based Kontomierz employees will now work as a group within the Kreditech organization.

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Kreditech launched in 2012, and since then has served two million customers across nine countries. The following inforgraphic displays the company’s impressive growth:

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Kreditech demonstrated its Kredito24, K24, and Zaimo products at FinovateSpring 2014. You can check out the demo video here.