Swedish-based credit information startup Kreditz, a Nordic market leader in credit scoring and verification services, has recently raised €10m in its latest funding round.
Key investors in this round include Ingka Investments and Creades, both making minority investments in the startup.
Kreditz, founded in 2018, specialises in helping banks and financial institutions analyse bank transaction data and obtain a comprehensive view of applicant profiles based on Open Banking and PSD2 data. The company uses bank transaction data as a foundation, aiming to promote financial transparency and responsibility globally through automated information retrieval and analysis of loan applicants’ current income and expenses.
The new funding will be used to accelerate Kreditz’s growth and facilitate expansion into new markets. Ingka Investments Managing Director Peter van der Poel said, “Open-banking-enabled credit and risk insights is an area we believe can add value to Ingka’s financial services proposition in the future. Financial inclusion sits close to our heart, and we are impressed with how far Kreditz has come in the short time they have been in the open banking market.”
Kreditz CEO and Founder Roni Zacharion highlighted the rapidly developing market and the increasing demand for accurate, real-time data to enable better credit decisions. Zacharion expressed gratitude for the support from reputable investors like Creades and Ingka Investments, sharing their vision to build a leading player in Europe in the open banking and credit information space.
Ingka Investments, with its focus on fulfilling the IKEA vision of creating a better everyday life for the many people, invests in innovative companies that share their values and ambition to have a positive impact on people and the planet. This allows Ingka Group to stay relevant, broaden its investment landscape, and diversify its financial risk and return profile.
Kreditz has obtained the Account Information Services license from the Swedish FSA. Its products, based on Open Banking & PSD2 technology, help banks and financial institutions make more informed decisions.
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