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August 15, 2022
Finance Technologies

German fintech lender Monedo files for bankruptcy

Monedo, a Humburg-based fintech which offers customised instalment loans, has filed for bankruptcy, Manager Magazin reports. The 269-employee-strong start-up was backed by billionaire Peter Thiel, bank investor JC Flowers, and media giant Naspers. Founded in 2012, then-named Kreditech offered microcredit loans to customers in and outside of Europe It had more than one million customers, making it one of Germany’s more successful fintech start-ups. Formerly known as Kreditech, the fintech was in the middle of a business model pivot. But the change took a turn when jurisdictions it operated in decided to implement laws which allowed borrowers to postpone the…
German fintech lender Monedo files for bankruptcy

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