Vexcash
Karsten Schmidt has extensive work experience in various roles and companies. Karsten began their career in 2004 at Competence Call Center, where they worked as a Customer Service representative for two and a half years. Karsten then progressed to the role of Team Lead Manager for a year before transitioning into Project Management for three years. In 2011, they joined DailyDeal GmbH as an Employee and later became an Experienced Team Leader, holding this position for almost two years. In 2018, Karsten Schmidt joined Vexcash AG as Head of Customer Care, where they worked for two years before being promoted to Head of Customer Care, Product & Partner Development. Finally, in August 2021, they assumed the role of Chief of growth and customer experience at Vexcash AG.
Karsten Schmidt pursued their education from 2000 to 2003 at Technische Hochschule Wildau, specializing in the field of Telematics. Karsten then furthered their studies from 2011 to 2016 at Hochschule für Technik und Wirtschaft Berlin, where they earned a Master's degree in Business Communication with a focus on Wirtschaftskommunikation.
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Vexcash
Vexcash.com is the first and only PayDay lender in Germany.PayDay loans are called "Kurzzeitkredit" in Germany.When Vexcash launched in 2011 they brought the concept of PayDay loans to Germany as an alternative to regular long term loans. Vexcash overcame and adjusted to several regulations and started a cooperation with theGerman net m - Privatbank 1891. Since the beginning of 2013 the cooperation with this fully licensed German bank gave Vexcash a boost and made it grew rapidly. Vexcash lends money to people in financial circumstances when people suffer to get a loan anywhere else.Since Vexcash only lends money for 30 days it uses an own internal algorithm to calculate the risk whether the borrower will be able to pay back the amount within time.In Germany the so called "Schufa" is a credit investigation company which records 66 million private people and 5 million businesses. The "Schufascore" is an algorithm that also calculates the risk whether the borrower will be able to pay back the loan in time but on the basis of 12-36 months with an average amount of 20.000 Euro.Vexcash combines its own algorithm and the Schufascore to calculate its own risk lending money to applicants. Due to this fact, Vexcash also lends money to customers with a Schufascore H-I. Compared to a regular bank which in general lends money to people with Schufascore A-C.The whole applicant procedure happens in real time which makes it possible to transfer the loans within 30 minutes to the applicants account.