Kreditech Eyes Expansion After Securing EUR 20 Million in Equity Financing

/ -- Kreditech is ready to scale globally in the near-prime customer segment declares David Chan, Kreditech CEO. The Germany-based online direct lender and Point-of-Sale (POS) financing provider estimates its global target market at ca. EUR 300 bn in consumer
The funds obtained during the latest round of equity financing will be utilized to scale Kreditech's business in its existing markets. In outlining the company's current situation and its future plans, David Chan explains: "We have a well-established presence in Poland, with strategic partnerships in a very dynamically growing e-commerce market. In Spain, we are in a very strong position as a recognized consumer lending brand, and we are growing rapidly in the near-prime market. In Russia, we are a leading online lender, locally self-funded, and targeting expansion into instalment loans."

In October 2019, Kreditech will publish its financial statement for 2018. As David Chan underlines, the results will show the positive impact of the new company strategy on its trajectory and overall performance. "I am proud to say that we are on track to reach our target for profitability of the company. Our platform is designed to facilitate rapid, profitable growth."