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.
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
[Editor’s note: This is a guest post from David Lin, Head of Credit at PayU. David is an experienced FinTech risk executive...