Charles Egly (left)/Younited.
Younited hits €1.1bn valuation as €60m raised from backers including Goldman Sachs
The French embedded lender reached €1.6bn in GMV and €190m in revenue this year.
Paris-based checkout lender and payment platform Younited has reached a Unicorn valuation of €1.1bn, thanks to a fresh funding round.
Younited is a checkout consumer lender similar to buy now, pay later, but with a banking licence that lets it lend on far larger basket sizes of up to €50,000 and with lending terms of up to 84 months.
Today the fintech operates across France, Italy, Spain, Portugal and Germany where merchants and financial institutions can embed its loans, while also offering direct consumer loans for larger ticket items directly through Younited’s website.
“While Younited’s historical activity (“Direct-to-Consumer”) is profitable in 2022 across all of our 5 countries, this new fundraising will allow us to continue investing in our disruptive technology as well as in the deployment of our second activity (“Partnerships”) launched more recently,” said Charles Egly, chair of Younited’s management board and co-founder.
As well as the raise, Younited also posted its 2022 financials, which included €190m in annual revenue (up 54 per cent year-on-year) and €1.6bn in total gross merchandise value (up 70 per cent).
According to the lender, these results are allowing it to “quickly converge towards profitability” with its direct-to-consumer lending due to be profitable in all of its markets this year.