While Greece and its creditors continue to play a game of chicken, a startup out of Germany putting a big data spin on the business of loaning money is raising a large round of funding.
TechCrunch has learned that Kreditech, an online finance startup that loans money to consumers who have little or no credit rating, is raising around $110 million in a Series C round of funding. One part of that has already been secured from one of the better known VCs and entrepreneurs in the startup world. €37 million ($44 million) is coming from investors that include Peter Thiel, one of the co-founders in PayPal and a prolific investor who has backed Facebook, Palantir and many others.
The rise of Kreditech speaks to a big upswing for “fintech” startups, with others out of Europe like WorldRemit, TransferWise and Funding Circle all raising large rounds of funding, and larger M&A movements pointing to a bigger…
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