Younited, the fintech specializing in instant credit for individuals, has raised 60 million euros in financing and entered the select circle of unicorns. We take a closer look at this French company that has revolutionized the instant credit sector.
The story of a successful French fintech in instant credit
Formerly known as "Prêt d'Union", Younited was founded in 2009 and offersa collaborative credit platform. Thanks to cutting-edge technology and a passionate team, Younited has developed an innovative approach that enables borrowers to take out instant credit 100% online. Financing solutions for individuals and businesses alike.
By focusing on simplicity, security and personalization, Younited has set itself apart in the online credit market. Its collaborative model, where loans are sourced directly from investors, promotes a fair approach and attractive interest rates that benefit borrowers and investors alike.
Today, the company offers loans of up to 50,000 euros and is present in France, Italy, Spain, Germany and Portugal.
Investments that propel Younited into the future
In 2022, Younited completed a final round of financing, raising 60 million euros and reaching a valuation of 1.1 billion euros, propelling it to unicorn status. By 2021, the company had already raised 138 million euros, increasing its valuation to 700 million euros.
For this latest round of financing, Younited's four biggest shareholders are on board: Crédit Mutuel Arkéa, Eurazeo, Bpifrance Large Venture and Goldman Sachs.
Younited thus becomes France's 28th unicorn, joining other fintechs such as neobank Qonto and cryptocurrency star Ledger.
Confirmed growth
Charles Egly, co-founder and CEO of Younited, comments "While Younited's historical business has been profitable since this year in all 5 of our countries, this new round of funding will enable us to continue investing in our disruptive technology and data, as well as in the roll-out of our recently launched second business (partnerships).".
The company's impressive growth has been driven by strategic partnerships. Indeed, the unicorn offers merchants and financial institutions the opportunity to use its technologies and expertise to deploy an instant credit solution on their platforms. To this end, Younited has forged a partnership with Orange Bank.
Today, Younited seems to be doing well, unlike fintechs such as Stripe and Klarna, which are experiencing difficulties and have ended up laying off a large number of staff. The company hopes to build on this success.
Younited: key information
Number of employees to date
The Younited team is made up of around 500 employees spread across Europe, particularly in France, Germany, Portugal, Spain and Italy.
Sales figures
Younited's sales rose sharply in 2022 to €190 million.
Going public
Younited is not yet listed on the stock exchange, and has no plans to go public in the near future.
Scalability
Younited's 100% online instant credit model and innovative technology enable it to adapt nimbly to growing demand. Whether expanding its range of financial products, meeting the needs of a growing European market or optimizing its services, Younited maintains its performance while offering a smooth and efficient customer experience.
Mantra/Citation CEO
"The pressure never to go fast enough is a constant among entrepreneurs, and perhaps even more so in finance, because we're taking on giants. It takes time to challenge them. But you can't waste a second! - Geoffroy Guigou, co-founder and CEO of Younited.
