Consumer credit platform Younited has raised EUR 60 million to expand its instant credit offering in Europe and reach unicorn status. The investment comes from Younited’s main shareholders Eurazeo, Crédit Mutuel Arkéa, Bpifrance, and Goldman Sachs.

It means a valuation of EUR 1. 1 billion for the firm, which last raised over EUR 130 million in a Series G funding round in 2021. Younited’s services and targets The capital injection will allow Younited to continue deploying its instant credit and open banking solutions, as well as building out partnerships in all five markets where it is currently active – France, Spain, Portugal, Germany, and Italy.

The fintech is also preparing to announce new European geographies in future. The France-based company, which offers consumers up to EUR 50,000 in credit at checkout to buy high-ticket items like smartphones or home furnishings, was founded in 2009. It is embedded into online checkouts, meaning customers get an instant decision on credit as well as repayment terms of up to seven years.

It has already served 1 million customers to date, achieving EUR 3 billion in cumulative gross merchandise value, with the average credit amount coming in at around EUR 1,500. The firm expects to achieve EUR 5 billion in cumulative GMV in 2022. Younited can be ‘major player in European credit’ Company officials stated that while Younited's historical activity (direct-to-consumer) is profitable in 2022 across all of their five countries, this new fundraising will allow them to continue investing in their disruptive technology as well as in the deployment of their second activity (partnerships) launched more recently.

The partnership channel affords Younited's partners, merchants, and financial institutions the opportunity to use the technologies and expertise developed by the company for deploying instant credit solutions on their platforms. It already enjoys high-profile partnerships with the likes of Orange and Microsoft, giving customers credit when they come to pay for goods in Xbox or the Orange Store. .