Younited raises $170 mln from Goldman Sachs, Bridgepoint

Zovio

08/07/2021 06:30

STOCKHOLM, July 8 (Reuters) - French fintech firm Younited
said on Thursday it has raised $170 million from a group of
investors, including Goldman Sachs and Bridgepoint  BRDG.UL , to
expand its footprint in Europe.
    Younited offers personal loans to individuals and also works
with companies such as Orange Bank and N26 who want to offer
their customers credit products. Partnerships with companies
account for about a third of Younited's net banking income.
    Companies such as Younited are among the "neo-banks" and
fintechs that rely on digital technologies to break into the
banking market with low-cost offers. 
    Younited has so far raised $400 million and plans to use the
new funds to consolidate its presence in France, Italy, Spain,
Portugal and Germany.
    It also counts investment firm Eurazeo  EURA.PA , investment
bank Bpifrance and insurance firm AG2R La Mondiale among its
shareholders.       

 (Reporting by Supantha Mukherjee, European Technology &
Telecoms Correspondent, based in Stockholm
Editing by Sonya Hepinstall)
 ((supantha.mukherjee@thomsonreuters.com; +46 70 721 1004;
Reuters Messaging:
supantha.mukherjee.thomsonreuters.com@reuters.net))