French fintech Younited secures €60m in new funding
European credit provider Younited has bagged €60 million in a new funding round at a valuation of €1.1 billion.
The fresh capital was raised from its main shareholders Eurazeo, Crédit Mutuel Arkéa, Goldman Sachs and Bpifrance via its Large Venture fund.
Younited says it will use the money to continue the deployment of its “instant credit” and open banking solutions and to further develop its partnership activities with merchants and financial institutions in all the geographies it operates in.
Founded in 2019 with its headquarters in Paris, France, Younited provides credit of up to €50,000 for up to 84 months, with decisions made “in a few seconds”.
It claims to serve almost one million customers across France, Italy, Spain, Portugal and Germany, generating close to €2 billion in yearly gross merchandise value.
Younited also provides credit and payments software-as-a-service (SaaS) solutions for financial institutions and counts N26, Wizink and HSBC France among its customers.
Gilles Grapinet, chairman of the supervisory board of Younited and CEO of Worldline, says the new funding “demonstrates the confidence of Younited’s investors”.
The credit platform last raised $170 million in 2021.