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Kreditech raises EUR 10 mln from Rakuten

Friday 16 December 2016 | 12:38 PM CET

Kreditech has announced that it has raised EUR 10 million equity from Rakuten to boost development.

Kreditech aims to invest the new funding into further developing its partnership business. The company has launched its Lending-as-a-service in spring 2016. Renowned partners such as PayU (Naspers) are making use of Kreditech’s POS financing integration.

“Rakuten invests directly into our mission to improve financial freedom for the underbanked through technology”, according to Kreditech. “In addition to the financial investment, we envision future partnership opportunities.”

Kreditech’s group of backers includes J.C. Flowers and the World Bank’s International Finance Corporation. 

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