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N26 to offer loans in France through P2P partnership

Digital bank joins forces with French fintech lender Younited Credit.


Stop me if you’ve heard this one before: a digital bank has partnered with an online lender to offer loans to its customers. Specifically, N26 has formed a partnership with French marketplace lender Younited Credit.

This natural union has been seen before in the form of Revolut’s partnership with UK-based Lending Works, and indeed in N26’s partnership with German lender Auxmoney, which was agreed to in July. They offer a means of mobile banking customers gaining seamless access to credit, in mere minutes, without ever leaving the app.

It will take just a few taps and an electronic signature to apply for the newly-available loans, which range from €1,000 to €40,000, with terms of 24 to 72 months. Initial approvals take place instantly, with final confirmation and the money sent within one working day.

N26 describes the Younited Credit deal as the first of its kind in France. Its general manager in France, Jérémie Roselli, said that N26 “will keep on innovating and offering new products and services to our French customers as they request them”.

According to AltFi Data,Younited Credit has lent a touch shy of €600m to date, making it the largest marketplace lender in continental Europe, just ahead of Auxmoney.

Licensed as a European credit institution, the French lender is able to raise deposits from both individuals and institutions, in addition to raising retail investment via its SPVs. Younited Credit boss Charles Egly told AltFi in an interview in September that his firm is the only online lender in Europe or the US to hold such a licence. 

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