Kreditech appoints David Chan CEO

Kreditech, a provider of digital consumer lending using machine-learning based underwriting, today announced the appointment of former Barclaycard Consumer Europe CEO David Chan as CEO. Mr. Chan has more than 20 years of experience as a financial services leader, with deep expertise in running credit card, payments and consumer lending businesses.

David Chan

“I am thrilled to have the opportunity to lead Kreditech in its next phase of growth, and look forward to working with the multi-national team and a seasoned group of shareholders,” Mr. Chan said. “Building on the company’s vision to bridge the credit gap for underbanked consumers via the use of technology, we intend to tailor our automated credit product offerings to meet the evolving needs of consumers and partners in rapidly growing economies.”

“Over the last six years we have grown Kreditech from a technology start-up to a successful international consumer finance business – serving hundreds of thousands of international customers,” says Alexander Graubner-Müller, co-founder of Kreditech (he remains as founder and deputy CEO) . “We have ambitious plans to scale our business to become a global leader in this industry.

“Having the right team and experience in place is crucial for our success. I am thrilled to have found a world-class executive to lead us in the next level of expansion. This year we are extending our product offerings in new major markets such as India. David’s operating experience, strategic vision and consumer credit expertise in international financial services will be invaluable in our next phase of growth.”

Additional changes were announced. Mariusz Dabrowski has been appointed CFO and Todd Simmerman chief product and technology officer. Mr. Dabrowski previously served as CFO and financial director at Homecredit, IPF and Provident in India, Spain, and Poland, while Mr. Simmerman served as CTO at Paysbuy, the payments processor in Thailand.

Giles Andrews OBE is the new chairman of the advisory board. Mr. Andrews is the co-founder and chairman of Zopa and chairman of MarketInvoice.