The auditing firm KPMG and fintech investment firm H2 ventures have ranked Kreditech seventh out of the top 100 leading international fintech companies, a Kreditech press release said Wednesday (November 22, 2017). The ranking has been published in a study called 2017 Fintech100 Leading Global Fintech Innovators.
Revenue and customer base doubled
Kreditech has also been ranked among 500 German “Growth Champions” in 2018 making it one of the most successful IT, internet, software and services companies in Germany. The German weekly news magazine Focus and Statista, the leading German statistics portal, hailed Kreditech as “one of the fastest growing companies in Germany”. Launched by Sebastian Diemer and Alexander Graubner-Müller in 2012, Kreditech has grown significantly and now has over 400 employees and more than 700,000 customers worldwide and recorded a 100 per cent increase over 2016.
Graubner-Müller, CEO of Kreditech, said: “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. 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.”
Kreditech provides microloans and instalment credits to integrate the “underbanked” who are usually rejected by mainstream banks.
Kreditech’s strong growth and record investments
According to the study, Hamburg is one of the most important conurbations for fledgling, dynamic companies. Some 33 companies in the ranking are from Hamburg and 42 from Berlin. In May, PayU, the fintech and e-payments division of Naspers, a global internet and entertainment group, invested EUR 110 million in Kreditech. The investment, the highest ever in a German fintech, will allow the firm to launch on India’s market. Kreditech also provides B2B solutions and has subsidiaries in Spain, Poland, Czech Republic, Russia and Mexico and is planning expansion measures. Graubner-Müller stressed: “Hamburg is and remains our main location.
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