French online consumer credit specialist Younited has raised 60 million euros, valuing the company at 1.1 billion euros, the newspaper says. the echoesciting the co-founder of this fintech.
With such a valuation, Younited thus officially becomes the twenty-seventh French unicorn, a term that groups high-growth technology companies whose value is estimated at more than one billion dollars. Several historical investors such as Bpifrance, Crédit Mutuel Arkéa, Eurazeo and Goldman Sachs participated in the operation, the newspaper reveals in its edition this Thursday.
Expected profitability in the second half of 2023
Founded in 2012, Younited quickly made a name for itself in the consumer credit market with a completely online distribution method, allowing it to provide a very quick response to its customers. During its previous fundraiser, in July 2021, the company had raised $170 million to invest in marketing, technology, and data analytics.
According to co-founder Charles Egly, who spoke to the newspaper, Younited didn’t need much more money this time and this new round of funding “is a safety cushion that will allow us to reach profitability,” scheduled for the second half of 2023.
Younited claims to be the leader in its segment in five European countries (France, Italy, Spain, Portugal and Germany) and produce two billion euros in loans per year.
Source: BFM TV
