Monedo (Formerly Kreditech)

Monedo, formerly known as Kreditech, was a German fintech company that provided financial services to underbanked consumers. The company's core business was offering consumer loans, particularly microcredit loans, to individuals with limited access to traditional banking services. Monedo operated in several countries, including India, Poland, and Spain.

The company's business model was centered around a proprietary, fully automated underwriting process. This system utilized machine learning algorithms and alternative data sources to assess the creditworthiness of loan applicants. By analyzing a wide range of data points beyond traditional credit scores, Monedo aimed to provide credit to a larger segment of the population.

In addition to consumer loans, Monedo also offered a digital wallet and a "credit as a service" model. This allowed partner companies to integrate Monedo's credit products as a payment method or funding source. However, the company faced challenges and ultimately filed for bankruptcy in 2020.

Keywords: fintech, lending, microcredit, underbanked, machine learning, underwriting, consumer loans, digital wallet, credit as a service, bankruptcy