The company has served 2 million customers in 9 countries since launching in 2012. It will use this debt to “address the growing demand for loans of longer durations at fair prices.”
Kreditech CFO, Rene Griemens says, “Setting the stage for our upcoming Series C financing round, the credit facility will reaccelerate our growth well beyond the 500 percent per year mark.” According to TechCrunch, the impending Series C round will bring Kreditech to a $750 million pre-money valuation before its anticipated IPO in two to three years.
Kreditech uses its big data credit-scoring technology to better serve the world’s un and underbanked population, which accounts for four billion people. Earlier this month it acquired Kontomierz for its KYC technology and ability to get unique data in real-time.