Alternative Finances

German Online Lender Grabs $37M To Ramp Products

Finanzcheck, a German consumer online lender, has raised €33 million ($37 million) in Series C funding, according to a TechCrunch report.

The round, led by HarbourVest and with participation from Acton Capital Partners and Highland Europe, will be used to expand its services and products across the consumer loan market.

Where Finanzcheck fits into the loan marketplace is making it easier for consumers to find the loan they need.

“Instead of undergoing this extremely complex and time-consuming process, a consumer can simply provide his personal data on once, via one single interface merging all scorecards,” CEO Moritz Thiele told TechCrunch.

“We pre-score the client based on our own in-house Big Data matching algorithms to pre-select most suitable banks. Via direct interfaces, deeply integrated into the bank’s IT architecture, which enables real-time communication, the client’s data is transferred, and the banks now place their loan offer in real time. Our recommendation engine evaluates these offers and selects the best one for the customer,” he continued.

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