Younited has recently closed a $170 million financing round to become the European credit and payment platform of reference. The French company present in five countries and one of the leaders in the continental fintech market has a great ambition that rests on several certainties, thanks to convenient solutions in terms of personal loans and payments processed in digital format. Amortization of loans up to $59,000 (€50,000) within 24-48 hours, deferred payment solutions, budget coaching, and term deposits for individuals are some of the financial services offered.
However, they are not the only ones as there are also Banking-as-a-Service technology solutions for banks, insurance companies, telecommunication operators, traders, and technology companies that aim to offer their customers a totally digital experience, therefore fast and transparent, but also data-driven, so that customers have the necessary information to choose the most convenient or congenial way to meet their needs.
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Younited raised so far $400 million
With the latest step, Younited brings the amount of fundraising obtained so far to around $400 million, after it closed the largest funding round at the time for the French fintech market in 2018 ($77 million (€65 million) from Eurazeo, Crédit Mutuel Arkéa, Adevinta, Bpifrance, Matmut Innovation, and Zencap Asset Management), and strengthens its European growth objective with the arrival of new heavyweight backers.
Leading the new injection of capital is Goldman Sachs Growth Equity, which manages assets worth 8 billion dollars, and Bridgepoint, an international company active in financing and loans for small and medium-sized companies that has over $30.8 billion (€26 billion) in assets under management, who join the historical shareholders Eurazeo, Bpifrance Large Ventures, and AG2R La Mondiale.
A traditional but online bank
Not just big names because Younited has a banking license recognized by the European Union to act as a full-service traditional consumer credit bank to differentiate it from most competitors, offering financing and payment products that are easy to implement in all EU member countries. Active in France in 2012, it arrived in Italy in 2016 and followed in Spain, Germany, and Portugal, the company born from the desire of Charles Egly, Geoffroy Guigou, and Thomas Beylot to eliminate the need to go to a branch and comply with a prolonged process based also on the exchange of paper documents, has provided loans so far for 2.6 billion euros.
“The new equity round will allow us to invest in a more disruptive technology and data-driven product that will benefit customers and partners, while simultaneously accelerating innovation to grow Younited into a global technology leader in payments and lending,” said Charles Egly, co-founder and CEO of Younited.
“This capital raise propels Younited Credit into the inner circle of fintech companies driving the consumer credit and personal loan market in Italy. Since the launch of our startup in 2012, we have grown steadily to consolidate ourselves as one of the most solid, reliable, and transparent realities in the industry, and this is evidenced by the excellent feedback we receive from consumers and our institutional clients who reward us for the ability to know how to propose innovative and personalized solutions and services,” are the words of Stefano Piscitelli, Managing Director of Younited Credit Italia.
“We want to continue to create value for the world of credit and for the community, and the new round of funding positions Younited as one of the most important European players in personalized credit and digital payments, and demonstrates our ability to operate with transparency, offering reliability, agility and simplicity to both the B2C and B2B sectors,” explained Tommaso Gamaleri, CEO Europe of Younited Credit.
Installment payments, eCommerce and the bright prospects of fintech
In order to deepen the company reality and discover the next moves in the light of the relevant round just announced, StartupItalia met Tommaso Gamaleri, a former rugby player passed from the insurance branch of Admiral Group to the co-founding of ConTe.it and arrived in 2015 to lead the Italian branch of Younited, which in a five-year period has conquered a 10% market share.
In December 2020 he was promoted to coordinating the company management in the 5 countries where Younited is active, while last May he was appointed to the board of directors of Assofin, the Italian Association of Consumer Credit and Mortgages.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in StartupItalia, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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