Kreditech Gets $200M Credit Line To Fuel Its Big-Data Based Consumer Lending Business

TechCrunch

Kreditech, the consumer finance startup that focuses on lending money to “unbanked” consumers with little or no credit rating, is today announcing a hefty line of funding that it will use to expand its business. It is getting a $200 million credit line from Victory Park Capital, one of the largest in the history of online lending services.

Kreditech is not disclosing its valuation but as an estimate, we know that the company is preparing in March/April to raise a Series C round at a $750 million pre-money valuation (and as a point of comparison of growth, its $40 million Series B was at a $190 million valuation). The longer-term aim is for an IPO in two to three years, after the current pace of expansion slows down.

Indeed, the credit line comes at a time of rapid growth for Kreditech, currently at a rate of 500% in the last 12 months and 60-80% per quarter…

View original post 596 more words