Alexander Graubner-Müller is the founder of Kreditech, one of Germany’s most well-known financial tech (FinTech) startups. Kreditech provides loans for individuals underserved by traditional banks, often due to their lack of credit history.
In contrast to their established competitors, Kreditech combines alternative data sources, such as social media data, and machine learning technology to score the credit-worthiness of a potential customer.
With this concept, Kreditech persuaded many world-renowned investors, like Silicon Valley’s Peter Thiel, to take part. Over 370 million USD have been invested in the Hamburg-startup and it is widely considered a future unicorn or when a startup has a valuation of over $1 billion.
“One of our biggest mistakes was to internationalize too fast. It took us only four weeks to enter Kazakhstan, but over one year to exit the market.”
Take a listen as Graubner-Müller shares how he and his co-founder, Sebastian Diemer, came up with the idea for Kreditech and their future plans for the startup.
Also in this podcast:
- What Graubner-Müller thinks about a Kreditech IPO
- Kreditech’s new business line “lending-as-a-service”
- Graubner-Müller’s biggest mistake as CEO of Kreditech
- His thoughts on the most important trends in FinTech
- Advice for aspiring entrepreneurs: focus, do not do things half-baked
- Why right after university is the best time to start a business