20 July 2017
visit www.finastra.com

Kreditech secures EUR110 million investment from PayU

10 May 2017  |  3898 views  |  0 cash

Germany's Kreditech has secured a EUR110 million investment from online payment processor PayU.

The deal, which gives PayU a significant minority stake in Kreditech, builds on a successful 12-month pilot programme in Poland which saw more than EUR10 million in instant credit issued to consumers at the point-of-sale.

Under the agreement, Kreditech will deliver its AI and machine-learning credit underwriting and loan management technology to PayU’s 300,000-strong network of merchants.

Laurent le Moal, CEO at PayU, says: “In the past 12 months, we have become the leading corporate venture capital investor in fintech, investing more than EUR 245 million around the world. This latest investment in Kreditech fits perfectly with this vision.”

Headquartered, in Holland, PayU is the e-payment subsidiary of media congolomerate Naspers with a presence in 16 growth and emerging markets worldwide. The company joins JC Flowers, Varde, Blumberg Capital, HPE, Peter Thiel, Rakuten and the World Bank’s IFC as an investor in Kreditech.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Kreditech hires former mBank digital mastermind Panowicz

Kreditech hires former mBank digital mastermind Panowicz

07 October 2016  |  6462 views  |  0 comments | 3 tweets | 2 linkedin
Kreditech suspects data breach was inside job

Kreditech suspects data breach was inside job

24 March 2015  |  4791 views  |  0 comments | 7 tweets | 3 linkedin

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.worldpaymentsreport.comvisit www.www.fisglobal.com

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
12291 views comments | 19 tweets | 15 linkedin
EPC gears up for pan-European instant paymentsEPC gears up for pan-European instant paym...
9613 views comments | 10 tweets | 28 linkedin
Man trapped in ATM slides 'help me' notes through receipt slotMan trapped in ATM slides 'help me' notes...
9510 views comments | 8 tweets | 20 linkedin
Festy unveils digital currency payments wristbandFesty unveils digital currency payments wr...
8985 views comments | 11 tweets | 7 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
8412 views comments | 14 tweets | 20 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job