Key Data

• Trading Name: Kredu
• Legal Entity: KREDU GMBH
• Activities: virtual debit cards
• Location: Berlin, Germany
• Regulations: distribution partners of Dock Financial S.A. (PR42 profile), a licensed EMI
• Key People: Manuel Prenzel and Ali Özen

Kredu is a Berlin-based FinTech and one of the distribution partners of Dock Financial S.A. (PC42 profile), a licensed EMI,  offering virtual debit cards. The debit card can be ordered with different preloaded credits that must be paid back after 45 days.

Behind Kredu are Manuel Prenzel and Ali Özen, who launched the short-term loan provider Vexcash back in 2011 and sold it to the 4finance Group in 2017. Since 2019, the two entrepreneurs have been using the money they earned to systematically pursue the digitalization of lending with their second start-up. From the online entry of the credit request to the Schufa-neutral creditworthiness and account check to the virtual prepaid Mastercard credit card, everything runs digitized and automated at Kredu.

To develop this process, the two founders say they have invested 2 million euros of their own funds in Kredu.

Offering

Kredu advertises “Germany’s fastest loan disbursement” and fair lending criteria thanks to digitized processes. Consumers could thus receive a small loan disbursed in real time faster than ever before. The Berlin-based FinTech offers short-term loans between 50 and 3,000 euros with a fixed term of 28 days. For repayment, customers can opt for a 3 installment model. On the one hand, these deliberate restrictions allow Kredu to offer suitable terms and conditions and enable even people with a medium credit rating to obtain the loan they so urgently need (whatever that means in individual cases).

Customer Review

Trustpilot:

• The average rating is 3.5 out of 5 stars based on 46 reviews¹.
• Some customers praised the fast and easy service, the friendly and helpful staff, and the low interest rates¹.
• Some customers complained about the high annual fees, the problems with reloading, and the poor customer service²¹.

Conclusion

We rate the company on GREEN.