Paris-based consumer lending platform YOUNITED CREDIT has received a ?40m capital injection from existing and new investors.
The round saw commitments from current shareholders including Eurazeo, Cr?dit Mutuel Ark?a, AG2R La Mondiale and Weber Investissements. Among these were several new relations including Bpifrance, Matmut Innovation and Zencap Asset Management.
Paris-headquartered YOUNITED CREDIT is an online lending platform which connects and supports transactions between lenders and borrowers. The platform offers a response within 24 hours, and is on a fixed-rate credit and redemption maturity.
A range of loans can be applied for including, auto credit, personal loans, renewable credit, travel credit, wedding credit and motorcycle credit, among others.
In Q2 2017 the company surpassed ?500m of originated loans since inception, with ?250m of that being deployed within the last 12 months.
This new capital will be used to accelerate the company expansion in Europe and help it to invest in data science, credit scoring, and technology development. Over the two years, the company deployed services in Italy and Spain, with YOUNITED expecting to grow Net Banking Income by over 100 per cent this year.
Total funding received by the company has now reached ?103m since launch, with its last funding round comping last year, closing on ?15m.
Copyright ? 2017 FinTech Global
