Bringing you live news and features since 2006 

Dollars

Kreditech raises USD15m from Kreos Capital

RELATED TOPICS​

Kreditech has secured a credit line totalling USD15m from Kreos Capital.

This is the third extension after the initial USD5m loan in September 2013.
 
The capital is being used to finance the online consumer lending activities in Poland, Spain, Czech Republic, Russia and Mexico.
 
The company has been diversifying from short-term microloans to consumer-focused finance products, such as unsecured instalment loans, credit cards and innovative products that will be launched soon.
 
“Kreditech’s impressive growth with constantly improving metrics and highly professional execution and internationalization has impressed us to the extent that Kreos Capital has approved Kreditech’s request to intensify our collaboration with the company,” says Ross Ahlgren, founding partner at Kreos Capital.
 
Kreditech plans to raise a Series B equity growth round of USD20m to USD30m in the first half of 2014. Kreditech will expand to Australia in Q1 and to at least three additional markets, including Peru and Brazil, during 2014.
 
“Kreditech is thankful for Kreos’ sustained support for our strategy to build an entirely consumer-focused finance company. The investment will be applied to expanding our 24/7, real time and fully automated lending operations in emerging consumer finance markets around the world. The equity raised in our Series B round will be invested into the expansion to new countries and products and for sustaining our lead in delivering the best consumer experience in lending. Just as Amazon disrupted the online retail space, we are building the perfect platform for convenient consumer finance in the 21st century,” says Sebastian Diemer, founder and CEO of the company.

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by