It is a more than complicated context for European technology. Despite this, Younited managed to secure a funding round with, notably, Goldman Sachs and Eurazeo.
“Since our last fundraiser two years ago, we have quadrupled the size of the company and all of our historical activities are profitable,” says Charles Egly, co-founder and president of Younited.
Provide access to your banking history
Undoubtedly, it is this good health that has allowed the consumer credit institution to raise 60 million euros. Now valued at €1.1 billion, Younited has become the twenty-eighth French unicorn. A feat in 2022 according to European figures. This year, only 32 unicorns emerged. There had been three more times in 2021. Younited has managed to reverse a “bit of closed-off” climate in tech markets, acknowledges Charles Egly.
The company is specialized in instant loans, ranging from 500 to 50,000 euros. To grant them, Younited uses a European directive that guarantees that all European citizens are owners of their bank details.
Apple or Microsoft partner
This access makes it possible to identify, through artificial intelligence, the exchanges of the last three to twelve months. “So we see the salaries, the credits in progress, the rents, the expenses and the charges”, explains the president of Younited. This operation is instantaneous and, therefore, allows you to decide whether or not to grant credit in a few seconds.
Along with direct consumer credit, the company also performs analysis for third parties. The analysis solution is used in particular by online sales sites to validate installment purchases. Apple or Microsoft are among the partners of Younited, which validates payments in 12, 24, 36 or 48 monthly installments.
With this fundraising, Younited should not open up to a new market, but intends to implement its partnership solution where the company is already present. It is also a “safety cushion” that will allow the company to achieve profitability.
Source: BFM TV
