Credit provider Younited predicts record year

Younited, a European instant credit provider, posted record growth in 2021 and expects to reach 5 billion euros ($5.7 billion) in gross merchandise value by the end of this year, announced the Paris-based company on Thursday, February 17.

“The exceptional pace of our development demonstrates the perfect match between our instant credit offer and the exponential needs of the e-economy in Europe”, CEO and co-founder of Younited Charles Egy said in a statement.

In less than five years, Younited’s instant credit in five countries represents 60% of the European market, nearly half of which outside France, the company said.

The Younited team has 500 employees in France, Germany, Italy, Spain and Portugal.

The rapid growth in Europe is the result of Younited’s decision, from the start, to opt for their strategic regulatory placement. Under European Union regulations, Younited can position its instant credit technology in 30 European countries.

Its strategy is focused on expanding into new European geographies. If the company achieves its goal of adding three more countries over the next three years, Younited will serve 80% of the European market by 2025.

In January, Indifi Technologies started collaborating with google offer instant loans to small traders through the Google Pay platform, according to published reports.

Read more: Google Pay, Indifi partner to offer loans to MSMEs

The companies say the program’s lending experience is designed to be simple and completely digital. Merchants will see Indifi’s loan offers on the Google Pay for Business app, which they can click to complete an application.

Meta Platform’s Facebook is partnering with Indifi, an online lender in India, as part of a broader move to attract more local businesses as advertisers, media reported last summer.

Read also: Facebook launches SME loan program with Indifi in India

“We’re not looking to make money from this program, we don’t have any revenue share…but we’re hoping it will create growth in the industry that will eventually benefit us,” the VP said. and Managing Director of Facebook, India. , Ajit Mohan.

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NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICE IN THE DIGITAL ENVIRONMENT

On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

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