4Finance, a short-term lender with a presence in 17 countries, has now lent a grand total of over €4bn, after lending €1.1bn in 2016 alone. The platform writes loans off its own balance sheet, and regularly taps up the bond markets for funding. It raised €150m via bond listings in 2016.
4Finance places strong emphasis on technology, both in terms of the way that it fields and underwrites loan requests. The company reviewed more than 7.7 million applications last year, and now boasts a worldwide customer base of over 6 million people. Millennials make up a massive 64 per cent of that number, and tellingly 33 per cent of the firm’s applications are made via smartphone – a growth trend that looks likely to continue.
“We continue to enhance our service and products to ensure we can effectively meet the growing consumer demand for convenient, digital lending,” said 4Finance CEO George Georgakopoulos (pictured above).
4Finance was established in 2008, with an initial presence in just two markets. Now active across 17 – including far-flung, credit data deficient geographies such as Argentina and Mexico – the firm claims that 80 per cent of its branch-free roll-out process is replicable in any country, while 20 per cent of the launch requires tuning that is specific to the country in question.
In addition to a busy year of lending, 4Finance also splashed out on the acquisition of Bulgarian bank TBI for €69m in August.