Younited Credit Germany, an expansion by France based Younited Credit, reports having originated over €10 million in loans since launch in February of 2020. Younited Credit is a European online credit platform, certified by the French authority in charge of financial stability and customer protection (ACPR). It is a marketplace lender where sophisticated investors may fund consumer loans. Younited Credit Germany says it has won a large number of customers since its market launch. Younited Credit is the only European consumer lending platform to be fully authorized and regulated as a Credit Institution.
Younited reports that it has approved over 800 projects since its launch – achieving its goals for Germany. One reason for its success is said to be its simple credit application and flexible terms. It provides consumer loans ranging from €1000 to €50,000.
By the end of the year, Younited anticipates a total volume of more than € 20 million.
Alongside platform growth, the employee count has risen as well. Of the nine team members employed at the launch, 17 employees from various teams are now working. By the end of 2020, a total number of 21 employees are intended to be working for the German location in Munich.
In line with its funding strategy in other countries, Younited intends to offer investment solutions to both institutional and professional investors for loans originated in Germany.
Overall, Younited Credit has originated nearly €2 billion of loans since it was launched at the end of 2011.
Michael Herschlein, CEO of the German subsidiary, states:
“As a newcomer to the German market, we have been very well received and are pleased to be able to inspire both customers and investors with our offer. A positive start of this extent does not only provide us with a tailwind for our further development; it also reflects the synergy achieved between state-of-the-art technology, optimal UX and an ambitious and high-performing team.”
Crowdfund Insider Senior Contributing Editor Therese Torris, shared the following comment:
“There’s always been a keen competition between the two leading European alternative consumer credit platforms, Younited Credit in France and Auxmoney in Germany. Both were so far equally successful, facilitating more than a billion euros each worth of loans. Now, however, the bolder strategy of Younited Credit which went through the pain of getting its own banking license and of expanding internationally early on seems to be paying off. As Younited Credit makes inroads into Auxmoney’s home turf, it could pull away from its rival.”