French P2P Platform secures Mammoth Investment

By Henry Thomas on 2nd July 2015

P2P/Marketplace Lending

Prêt d’Union has announced a capital increase of €31 million, funded by a mixture of new investors and current shareholders.

French P2P Platform secures Mammoth Investment

Prêt d’Union is, according to AltFi Data, the second largest P2P lender in Europe (outside of the UK) with a market share of 21.39% over the last three months. The company is growing fast, having facilitated €62.3 million worth of loans over the last 6 months, compared to €192.7 million since their inception three years ago. This investment sees Prêt d’Union take the total amount of equity that the platform has raised to €50 million since its commercial launch in December 2011. The company, which is currently the only internet peer-to-peer provider to be certified as a “credit institution and investment service provider” by the French Prudential Supervisory Authority, sees this investment as a watershed moment. Geoffroy Guigou and Charles Egly, co-CEOs, remarked:

This new fundraising, which was widely oversubscribed marks a new growth phase for Prêt d’Union. It will enable us to commence our European expansion (planned for early 2016) and pursue our growth in France”.

Joining Prêt d’Union’s current investors – a group that comprises Crédit Mutuel Arkéa, Schibsted and AG2R La Mondiale – is Eurazeo, one of the leading investment companies in Europe. With a diversified portfolio of more than €5 billion in assets, Eurazeo says its mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. On the investment, Virginie Morgon, Deputy CEO of Eurazeo, remarked:

This investment…is an example of how we seek to contribute to the emergence of future leaders, particularly in sectors driven by growth in the sharing economy and digital transformation

Donald Bryden, Chairman of the Prêt d’Union Supervisory Board, concluded:

 “Eurazeo Croissance is proud to join forces with a managerial team which has demonstrated the strength of its business model” added Yann-Herve du Rusquec, Head of Eurazeo Croissance.

“Eurazeo will add to an already formidable pool…and thus transform Prêt d’Union into the undisputed European leader in peer-to-peer lending”

If the investment can facilitate Prêt d’Union’s international emergence then this may be a truly revolutionising moment for the company. According to AltFi Data, the French market makes up 3.19% of the European market (including the UK), however the European market outside of the UK looks set to take off. This investment gives Prêt d’Union the financial firepower to capitalise on that growth.

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