Younited, which offers instant credit in Europe, has raised €60m in a fresh funding round, bringing its valuation to €1.1bn.
The capital was supplied by Eurazeo, Crédit Mutuel Arkéa, Bpifrance via its Large Venture fund and Goldman Sachs.
With the funds, Younited will further the deployment of its ‘instant credit’ and open banking solutions. It also plans to deepen its partnership activity around the world.
This solution empowers them to provide customers with financing on Loans of up to €50,000 are available, with repayment terms of 84 months.
The company initially launched its services in Spain and Portugal in 2018, then in France in 2021. Its services are also available in Italy and Germany, and it is now looking to enter other geographies.
Merchants can deploy the Younited Pay service to their website or in-store within a few days.
Younited chairman of the supervisory board Gilles Grapinet said, “This fundraising, despite a market context marked by the macroeconomic uncertainties we are experiencing, demonstrates the confidence of Younited’s investors, which I fully share thanks to the demonstrated maturity of its development strategy. Younited has all the cards in hand to become a major player in the European credit industry.”
This investment comes after a strong growth period for the company. It recently announced a 70% growth in GMV to reach €1.6bn and 54% rise in total revenues to reach €190m.
The company previously raised $170m in a funding round backed by Goldman Sachs, Eurazeo, Bpifrance and AG2R La Mondiale.
Younited recently secured a €100m revolving financing line from Natixis CIB to support its originations in France and Germany.
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