Younited Credit plans to use the funding to recruit more employees. Here are the top-line bullets you need to know.
Younited Credit, a P2P lending platform, has raised $170M in a Series G with participation from Goldman Sachs, Eurazeo, Bpifrance, and AG2R La Mondiale.
How’s the company performing?
- France-based Younited Credit is a platform that enables qualified investors with savings (individuals, foundations, companies, institutions, etc.) to fund personal consumer loans.
- The company has a presence in 5 European nations, with France as its primary market, while Italy, Spain, Portugal, and Germany account for 40% of Younited Credit’s sales.
- The startup works with more than 30 companies, including Orange Bank, N26, HSBC France, and Lydia.
- Since its incorporation, the company has facilitated more than $2.85B (EUR2.4B) in loans.
Source: Younited Credit
Why does the market matter?
- The fintech market is projected to grow at a CAGR of 22.2% to reach a value of $305B by 2025, according to Market Data Forecast.
- Global fintech adoption stands at 25% and provides enormous opportunities for growth to providers and first movers.
- The market has seen a boom in funding in 2020, VCs invested $42B in fintech companies.
- The Covid-19 pandemic drove the adoption of cashless transactions and increasing demand for digital payment solutions and online payment gateways.