Prêt d’Union, the leading peer to peer lending platform in France, has raised a significant € 31 million from Eurazeo and angel investor Pierre Kosciusko-Morizet. The new investors join an established group including Crédit Mutuel Arkea, Schioted and AG2R La Mondiale.
In a posting on the Prêt d’Union site, the direct lender stated that in the past three years they have facilitated over € 200 million in loans. They are presently doing approximately € 15 million in loans per month. The capital injection will allow the P2P lender to expand into other European markets with Italy expected to launch in 2016. The new funding will also aid in developing platform technology, incorporate “big data” and grow corporate staff.
Charles Egly, PDG and CEO of Prêt d’Union predicted,
“In the next 5 years will be the leader in continental Europe and in at least 5 countries.”
Rude Baguette described the strategy as one that is emulating Lending Club’s rapid growth in the United States. Egly joked about purchasing Lending Club in the coming years.
Prêt d’Union is one of the founding members of FinTech France, a new advocacy group that was created to bring the disruptive finance ecosystems together to boost exposure. FinTech France views their association as necessary to grow France’s role in creative finance not just domestically but internationally.