Kreditech (a trading name of Kreditech Holding SSL GmbH) is a German online lender which offers loans to individuals based on their creditworthiness which is analyzed using their online data instead of using traditional credit rating information. Founded in 2012 by Sebastian Diemer and Alexander Graubner-Müller, Kreditech is headquartered in Hamburg, Germany; it particularly focuses its efforts on emerging markets. Technology Kreditech uses a self-learning algorithm which analyzes big data. It calculates an individual's credit score in seconds using up to 20,000 data points. Kreditech uses location-based information (GPS), social networking information (likes, friends, locations and posts), hardware data (operating system, browser, etc.), online shopping behavior and general online behavior in order to determine a loan applicant’s creditworthiness. Operations Kreditech operates in Poland, Spain, Russia, Romania, and India. The company currently employs 500 people, with the headquarters in Hamburg, Germany. Kreditech currently runs its operations via multiple online lending platforms such as Kredito24. Funding In 2014 Kreditech closed a US$40 million Series B round. Värde Partners led the deal together with current shareholder Blumberg Capital. Point Nine Capital and other shareholders also participated in the round. This funding round was the largest ever for a German financial services tech firm, and is one of the largest rounds in Germany in 2014. From 2012 to 2014, Kreditech raised a total of $65M. In January 2015 the company raised a further $200M in credit line from Victory Park Capital. The company will use the newly obtained funds to further develop its existing product portfolio and expand its operations to new markets. In April 2015 Kreditech was included in Forbes Magazine's list "The Next Billion-Dollar Startups", effectively being the only German company to make the list. In September 2015, Kreditech raised EUR€82.5 million in a Series C financing round led by J.C. Flowers & Co. Acquisitions On January 14, 2015, Kreditech has acquired 100% of Kontomierz.pl Sp. z o. o. (Kontomierz) for a seven digit amount plus Kreditech shares. Kontomierz makes software named Kontomatik to verify client identity (KYC) and gain read-only access to bank accounts. Kreditech stated it will support the expansion of Kontomierz in global markets such as Brazil, Mexico, Russia and Spain. Criticism Kreditech Holding SSL GmbH started in February 2012 as kredito OFS GmbH and launched its first platform kredito.de in March 2012. Kredito.de offered short-term micro loans to customers of up to €400. After launch of the service,