Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
Subscribe
No Result
View All Result
Dataconomy
No Result
View All Result

Kreditech Acquires Polish Financial Data Analytics Firm to Boost Revenue & Enhance Services

by Eileen McNulty
January 15, 2015
in Data Science, Machine Learning, News
Home Topics Data Science
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on e-mail

Kreditech, the consumer finance technology group, announced yesterday the 100% acquisition of Polish financial tech outfit Kontomierz for a seven digit amount and Kreditech shares.

Founded in 2009, Kontomierz has net revenues of €1 million at positive EBIT, and three-digit annual growth. This is especially impressive considering Kontomierz’s staff is only 16-strong; this elite team will continue to work as an independent section with The Kreditech Group. KontoX- a Kontomierz offering- helps to verify client identity and gain read-only access to bank accounts providing a missing API to bank systems that can sync with any bank globally using sophisticated financial technology.

Kontomierz’s CEO and founder Marcin Truszel believes that this new partnership will help accelerate and diversify the growth of Kontomierz: “Kreditech has a unique big data credit scoring technology,” he says. “We are now part of its vision to serve the 4 billion unbanked and underbanked individuals worldwide. This is the ideal platform for our international expansion and further profitability.”

Sebastian Diemer, founder and CEO of the Kreditech Group, is similarly enthusiastic about their shared future. “With its technology Kontomierz enables us to get unique data in real-time,” he states. “Our subsidiary companies will hence provide an even better banking service to a bigger target group,” he adds, hinting at the strategic rationale to strengthen the Group’s position worldwide.

With this union, Kontomierz can now expect outreach into Brazil, Mexico, Russia and Spain in 2015, whilst Kontomierz will help to fuel Kreditech Group’s growth of 500% percent per annum. Kreditech’s technology, which uses machine learning algorithms to build credit profiles based on 15,000 data points, has already proved extremely popular. Since its launch two years ago, Kreditech has served 2 million customers in nine countries, and is the fastest-growing European technology in the consumer finance space. With such an impressive track record and eye for lucrative acquisitions, the future certainly looks bright for The Kreditech Group.


Join the Partisia Blockchain Hackathon, design the future, gain new skills, and win!


Follow @DataconomyMedia

(Image credit: Kreditech)

 

Tags: AcquisitionsbankingFinancefintechKontomierzKreditech

Related Posts

BuzzFeed ChatGPT integration: Buzzfeed stock surges in enthusiasm over OpenAI

BuzzFeed ChatGPT integration: Buzzfeed stock surges after the OpenAI deal

January 31, 2023
Adversarial machine learning 101: A new frontier in cybersecurity

Adversarial machine learning 101: A new cybersecurity frontier

January 31, 2023
What is the Nvidia Eye Contact AI feature? Learn how to get and use the new Nvidia Broadcast feature. Zoom meetings and streams get easier.

Nvidia Eye Contact AI can be the savior of your online meetings

January 30, 2023
How did ChatGPT passed an MBA exam

How did ChatGPT passed an MBA exam?

January 27, 2023
What is AI prompt engineering? Learn how to write a prompt with examples. ChatGPT prompt engineering and more explained in this article.

AI prompt engineering is the key to limitless worlds

January 27, 2023
What is Analytics as a Service (AaaS): Examples

Transform your data into a competitive advantage with AaaS

January 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST ARTICLES

BuzzFeed ChatGPT integration: Buzzfeed stock surges after the OpenAI deal

Adversarial machine learning 101: A new cybersecurity frontier

Fostering a culture of innovation through digital maturity

Nvidia Eye Contact AI can be the savior of your online meetings

How did ChatGPT passed an MBA exam?

AI prompt engineering is the key to limitless worlds

Dataconomy

COPYRIGHT © DATACONOMY MEDIA GMBH, ALL RIGHTS RESERVED.

  • About
  • Imprint
  • Contact
  • Legal & Privacy
  • Partnership
  • Writers wanted

Follow Us

  • News
  • AI
  • Big Data
  • Machine Learning
  • Trends
    • Blockchain
    • Cybersecurity
    • FinTech
    • Gaming
    • Internet of Things
    • Startups
    • Whitepapers
  • Industry
    • Energy & Environment
    • Finance
    • Healthcare
    • Industrial Goods & Services
    • Marketing & Sales
    • Retail & Consumer
    • Technology & IT
    • Transportation & Logistics
  • Events
  • About
    • About Us
    • Contact
    • Imprint
    • Legal & Privacy
    • Newsletter
    • Partner With Us
    • Writers wanted
No Result
View All Result
Subscribe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy.