The Samwer brothers just invested in Kreditech, a German startup that uses thousands of data points to determine how creditworthy you are.
This is the first known investment Oliver (pictured, above) and Marc Samwer, founders of the Rocket Internet incubator, have made since launching Global Founders Capital. Founded in March 2013, the firm’s €150 million fund is aimed at startups around the world.
Kreditech is a credit-scoring and micro-lending company aimed at emerging markets; it competes with UK-based Wonga. According to the website, Kreditech has grown to 30 employees, and has also procured funding from the Rocket Internet startup incubator program.
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Global Founders Capital co-invested a “mid-seven digit” sum (the exact figure has not been disclosed) in the company alongside existing investors Blumberg Capital, Point Nine Capital, and Bigpoint founder Heiko Hubertz.
“This team moves faster than just about any team I have seen,” said Blumberg Capital’s Jon Soberg, who led the firm’s investment in Kreditech. “Despite that, there are countries with different regulations and customer patterns.” Kreditech just launched in the Czech Republic and is making its way across Europe.
“It is only fitting that Oliver [Samwer] is investing in Kreditech — they scale businesses at his pace,” Soberg continued.
The Samwer brothers are controversial figures in the startup ecosystem. Serial entrepreneur Jason Calacanis tweeted the investors are “despicable thieves,” referencing the brothers’ habit of imitating high-growth web companies, from Airbnb to Pinterest, and selling the businesses back to the founders with the original idea.
Incorporated in February 2012, Kreditech isn’t the only company in the credit-scoring space. But it appears to be one of the most successful — the company said in a statement that it is already “profitable.”
Top image of Oliver Samwer via Rocket Internet
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