| Founded | 2012 |
|---|---|
| Closed | 2020 |
| Country | Germany |
| Sector | Fintech |
| Total raised | ~$484M USD |
| Collapse type | Slow Death |
| Founder | Sebastian Diemer |
Kreditech
"Hamburg fintech used 20,000 data points to lend to the unbanked across 8 countries. Credit losses in emerging markets consumed $484M. Filed for insolvency 2020."
Years-long decline before final shutdown
Key Events Timeline
Kreditech was founded in 2012 in Hamburg by Sebastian Diemer and Alexander Graubner-Müller with the mission of providing credit access to underbanked populations using alternative data scoring rather than traditional credit bureaus.
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