Kreditech
Years of partnership
Developers relocated to
Hamburg HQ
Featured in TechCrunch
Awarded by Frobes
15+
6+
X1 Group helped one of the most successful fintech startups on the way to disrupting the credit services sector
Providing financial freedom for the underbanked
Kreditech is a group of services that enable customers from more than seven countries, including Poland, Spain, Mexico, and India, with little or no credit history to access the credit funds and bank loans.

Entering the business in 2012, Kreditech quickly became one of the most reliable online lenders for the underbanked thanks to its proprietary credit scoring system based on online data, artificial intelligence, and machine learning.

With such enthusiastic plans to revolutionize the fintech industry, Kreditech needed a reliable development team to help them reach their goals. X1 Group built a big, skilled team that created the infrastructure required for maintaining a large, multi-language product line to accelerate entering new international markets and launching of new products.

The Challenges

Building the ecosystem
The team's job was to build the entire loan-issuing ecosystem from scratch. It included Loan-as-a-Service platform, integration with e-commerce platforms, adaptive web applications for an end-user, back-office application for collectors, etc.
Automating Big Data analysis
The Kreditech platform uses self-learning algorithms that work with Big Data and uses 20K+ parameters to calculate the clients' credit scores. Our team was not directly involved in designing the algorithm, but was responsible for making the system work.
Creating a flexible system
Our team was responsible for creating an architecture for products that are easily customized when entering new markets. This was a solid challenge because each country has its own custom regulations and flow for issuing loans and refunds.

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The Solution

X1 Group built a professional, dedicated development team with exclusive knowledge of the fintech segment and a willingness to create a market-changing lending platform. Such a complex and long-term project required a large and flexible team, which sometimes reached up to 55 people, including full-stack, front-end developers (JavaScript, PHP, Go,) back-end developers (Scala, Java,) manual and automation QA specialists, and product managers.

The dedicated developers handled the back-end communication between the data-driven engine and the display interfaces. They participated in the development of Kreditech's lending platform that analyzes data from different sources, including location-based information, social networking information, hardware data, and general online behavior in order to access customer creditworthiness in a smooth and user-friendly way. Moreover, the team took part in the creation of Kreditech's localized products such as MonedoNow and Kredito24.
The Technologies
The Process
Our unique cooperation model implies the proximity of a team to the business and product and flexibility in operation management. Throughout our collaboration with Kreditech, we constantly adapted the processes adjusting to the complexity of the tasks, and a growing team needs to create a solid foundation for clarity, ease, and success. Initially, we formed a distributed team of 10 developers; next, as the project scaled and the headcount doubled, it was split into several functional teams. Later, we established a few more co-located and distributed cross-functional, full-stack Agile teams.

This involved providing the resources to facilitate the development process. With the project evolution, we shifted to big domain teams (micro-loans, installment loans, customer care & collections, payments, etc.) At one point, our flexible cooperation terms allowed us to relocate a part of the team to HQ to improve the balance and efficacy. However, regardless of the team composition, X1 Group's employees were and are an integral part of Kreditech's onsite team.
We built a dynamic, experienced, and flexible team.
We supported the Kreditech management team at every stage of the project lifecycle.
Our developers introduced a set of innovative solutions and revolutionary approaches that not only met but exceeded the client's expectations and resolved all upcoming issues.
The Results
1
Kreditech verified its business and received the largest investment of €110M from a single benefactor in the German fintech sector;
2
The company became one of the most successful online lenders in Europe, being named "The Next Billion Dollar Startup" and becoming one of the Top 100 Fintech Innovators;
3
Kreditech maintained full control over the team's workload, performance, and delivery, which helped the company reach its goals time after time;
4
A maximum team of 55 developers, QAs, and PMs.

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The Testimonial
Alexander Graubner-Müller
Founder & CEO
The key factors for choosing to work with X1 Group were their in-depth industry knowledge, access to world-class talents, dedicated focus on our needs as well as their understanding for our business.

The development team X1 recruited for us helped us prove our business idea and had a strong contribution to the overall success of our company.

I am thankful to the entire X1 Group team and can highly recommend their services to every technology business.
Alexander Graubner-Müller
Founder & CEO
The key factors for choosing to work with X1 Group were their in-depth industry knowledge, access to world-class talents, dedicated focus on our needs as well as their understanding for our business.

The development team X1 recruited for us helped us prove our business idea and had a strong contribution to the overall success of our company.

I am thankful to the entire X1 Group team and can highly recommend their services to every technology business.

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