Paris-based Younited Credit announced today it has raised a $48 million round of venture capital as the fintech startup seeks to extend its reach across Europe.
Younited offers a crowdsourced lending model for small businesses in France, Spain, and Italy. With the latest round, the company has now raised $124 million in funding.
Investors in this round include Bpifrance, Matmut Innovation, Zencap Asset Management. The company now has 190 employees working in Paris, Barcelona, and Rome. The company plans to use the additional money for its expansion as well as product development. And it hopes the participation of Bpifrance, the governent-backed national bank and France’s largest venture investor, will also give the fintech product a boost.
“This success allows us to accelerate our international development,” the company’s co-founders Charles Egly et Geoffroy Guigou, said in a joint statement. “We are already in the process of launching in new countries to assure our leadership in Europe. The experience of Bpifrance with accelerating international startups will be extremely useful to us.”