Younited, a European instant credit provider, posted record growth in 2021 and expects to reach 5 billion euros ($5.7 billion) in gross merchandise value by the end of this year, announced the Paris-based company on Thursday, February 17.
“The exceptional pace of our development demonstrates the perfect match between our instant credit offer and the exponential needs of the e-economy in Europe”, CEO and co-founder of Younited Charles Egy said in a statement.
In less than five years, Younited’s instant credit in five countries represents 60% of the European market, nearly half of which outside France, the company said.
The Younited team has 500 employees in France, Germany, Italy, Spain and Portugal.
The rapid growth in Europe is the result of Younited’s decision, from the start, to opt for their strategic regulatory placement. Under European Union regulations, Younited can position its instant credit technology in 30 European countries.
Its strategy is focused on expanding into new European geographies. If the company achieves its goal of adding three more countries over the next three years, Younited will serve 80% of the European market by 2025.
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