Paris based crowdlending platform Younited Credit has raised $47.8m in Series F funding from existing investors. Younited Credit provides an online plaftorm designed to connect and facilitate financial transactions between lenders and borrowers without the intermediation of a traditional financial institution.
Younited Credit is currently live in France, Spain and Italy as a consumer-facing product. Consumers can borrow anything between $1,200 and $48,000 (€1,000 and €40,000) without talking to an actual bank. 40 percent of borrowers ask for a small amount between $1,200 and $3,600 (€1,000 and €3,000). On the other side of the equation, other users can lend money, as well as companies, pension funds, insurance companies, etc. It’s a good alternative asset if you’re building a diversified portfolio. So far, Younited Credit has managed the equivalent of $600 million in loans (€500 million), including $300 million in the last 12 months alone (€250 million).