Younited Credit, a French online consumer loans platform, has just announced that it has raised €40 million in funds – a record figure for the sector.
The startup is aiming to become Europe’s leading consumer credit platform, and with this sixth funding round it now has the potential to become a unicorn. This latest capital injection comes courtesy of existing shareholders (Eurazeo, Crédit Mutuel Arkéa, AG2R La Mondiale and Weber Investissements) as well as new investors (Bpifrance, Matmut Innovation and Zencap Asset Management). The transaction brings the total amount of funds the company has raised since 2011 to €103 million.
The company now employs 190 people and has three offices in Paris, Rome and Barcelona. It has already provided loans worth €600 million to 75,000 people since it was founded, and now has 3,000 investors on its books (both private individuals and institutional investors).
Formerly known as Prêt D’Union, Younited Credit plans to expand into a number of other European countries by the end of 2019, and is aiming to take a leading role among the European companies using technology to disrupt the world of finance.