[Editor’s note: This is a guest post from David Lin, Head of Credit at PayU. David is an experienced FinTech risk executive...
Kreditech has raised 10 million euros (USD $10.4 million) from Rakuten, Inc., a firm based in Japan; the new funding will be used to develop Kreditech's partnership business; the company launched their lending as a service business in the spring of 2016; according to CFO Rene Griemens: "In addition to the financial investment, we envision future partnership opportunities. With its strong market position in Asia, Rakuten could be a door opener for us." Source
Kreditech, looking to launch in India, partnered with Mambu and their Software as a Service banking platform; Kreditechis planning to launch in India this year with their partner PayU, the payments provider; Alexander Graubner-Müller, CEO of Kreditech, tells Banking Technology that Mambu’s cloud-native solution “easily integrates into our architecture, allowing us to quickly scale and adapt to market and consumer demands”.; this will now be the sixth country the company is in and they plan to get it up and running in the first quarter of 2018. Source.