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France's startup Younited Credit raises USD 170 mln

Thursday 8 July 2021 12:57 CET | News

France-based startup Younited Credit has raised a USD 170 million funding round led by Goldman Sachs.

Existing investors Eurazeo, Bpifrance and AG2R La Mondiale also participated. The company offers several credit products to European consumers. It also has a diversified distribution strategy.

Younited Credit tries to differentiate itself from legacy players with a data-driven, AI-based approach. Instead of sending documents to a banker, Younited Credit tries to automate request processes as much as possible.

The company takes advantage of DSP2 regulation and Open Banking APIs to ingest data. As the startup has facilitated a large volume of credit offering, it can also use past data for machine learning risk models.

More recently, the company started embedding its product into third-party products. For instance, banks and fintech companies offer credit products in their apps with the help of Younited Credit. Examples include N26, Lydia, Orange Bank and Fortuneo. In 2021, the B2B offering represented 30% of Younited Credit’s net banking income.


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Keywords: funding, API, Open Banking, machine learning, TPP
Categories: Banking & Fintech | Online & Mobile Banking
Countries: France
This article is part of category

Banking & Fintech