Kreditech, a German based FinTech company, has announced today that Kreditech CEO Sebastian Diemer has chosen to transition from daily operations into a strategic role where he will focus on growth and innovation in addition to his ongoing Board participation. Co-Founder and CTO Alexander Graubner-Müller will assume the CEO position.
“In three years, Alexander and I have built Kreditech into an industry leader tackling a serious mission in a very innovative way — and it works.” said outgoing CEO, Sebastian Diemer. “I remain a Co-Founder, significant shareholder and my ongoing role allows me to better focus on specific aspects of the business while pursuing other interests like investing in and building new technology ventures and, of course, biking.”
Mr. Diemer stated in a letter to employees: “Alexander has been appointed CEO and has my fullest backing, trust and support. We have discussed this in a long process and, obviously, will not only remain business partners but good friends in and outside of Kreditech.”
Alexander Graubner-Müller said: “I’d like to thank Sebastian for the last three years. Building this amazing company together was a great achievement for the two of us. I look forward to continuing our work together through his ongoing role at Kreditech, as well as our friendship. As the newly appointed CEO I am confident that — together with the Management and Board — Kreditech’s international success will continue.”
Kreditech makes this statement ahead of the intended announcement date after certain information around the matter was obtained by the press. While not the company’s policy to comment, the reports contain factual errors that misconstrue the basis for this transition. The Board feels that it is important to clarify that this transition results from a collaborative discussion that began before the recently closed Series C investment. The broader team and the Board support the Co-Founders’ decision and look forward to working with both of them in their new roles.
Kreditech Group is a technology company that delivers a range of custom-tailored financial services with a focus on underbanked consumers across the globe. Kreditech uses big data, proprietary algorithms and automated workflows to acquire, identify and underwrite customers within seconds. Automated processes combined with self-learning algorithms ensure fast and convenient customer service, minimizing cost and human error while continually improving by incorporating new customer data. Since its founding, Kreditech has scored more than two million individual loan applications, using up to 20,000 data points per application. Kreditech’s global subsidiaries offer products from individually tailored installment loans and microloans to payment and other financial services. Kreditech’s Monedo brand provides an integrated suite of financial products, including a digital wallet and a personal finance manager designed to help customers manage their credit score and plan their spending. Founded in 2012 by Sebastian Diemer and Alexander Graubner-Müller, Kreditech Group has a team of over 200 passionate employees with over 40 nationalities.
Source: Kreditech Press Release