Gleiss Lutz advises Värde on acquisition of participation in financial services provider Kreditech

Värde Partners has participated as lead investor in big data finance company Kreditech’s Series B financing. In this second financing round, Hamburg-based Kreditech raised approx. USD 40 million in equity and is currently valued at USD 190 million. This makes it one of the largest venture capital funding rounds in Germany in 2014.

Värde Partners Inc. is a global investment manager specializing in alternative investments. With its credit-oriented, value-based approach it invests in a wide range of markets and securities. Värde Partners’ London office coordinated the financing.

Founded in Hamburg in 2012, Kreditech presently has over 140 employees. It is one of the fastest-growing European technology oriented financial services providers. Kreditech grants consumer loans in currently seven countries worldwide, applying complex credit algorithms based on Big Data to automatically create credit scores.

Värde Partners was advised by the following Gleiss Lutz team: Dr. Jörn Wöbke (partner, Hamburg), Dr. Jan Bauer (partner, Frankfurt, both lead), Dr. Daniel Heck, Franziska von Hutten, Dr. Fabian Walla (all corporate/M&A, Hamburg), Dr. Alexander Molle (counsel, IP/IT, Berlin), Sebastian Tusch (financial regulatory, Frankfurt), Dr. Iris Benedikt-Buckenleib (competition/antitrust, Munich).

Gleiss Lutz regularly advises domestic and international private equity firms on investing in promising companies, including in the venture capital sector.