High-value consumer credit for partners like Apple and Microsoft is lifting the French lender to new heights.
French lender Younited has reached a fresh milestone since the start of the year, with the Goldman Sachs-backed fintech seeing its revenue run rate leap by over 82 per cent.
The increase means Younited is currently operating at a €200m annual revenue run rate, up from €110m compared to H1 last year.
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 Younited operates across France, Italy, Spain, Portugal and Germany, and also offers direct consumer loans for larger ticket items directly through its website.
“The exceptional pace of our development testifies to the perfect match between our instant credit offer and the exponential needs of the e-economy in Europe,” said Younited CEO and co-founder Charles Egly.
“Today's consumers want more immediacy, more simplicity, whether they are making a purchase at a merchant or obtaining credit directly on our platform.”
Younited said that 40 per cent of its lending in France is now processed via an open banking journey which offers instant credit, with a target of increasing this proportion in France to 80 per cent by the end of 2023.
Finally, partners have also been key to Younited’s recent growth, with names like Microsoft and Apple among its clients.
The gross value of merchandise handled by Younited for these partners quadrupled in 2021 and is expected to double again in 2022.
“2022 marks a major inflexion in our Via Partners channel growth,” said COO and co-founder Geoffroy Guigou.
“We have become the leading instant credit partner in electronics, telecom, and neo-banking industries by deploying our plug and play technology in a fully integrated way on the platforms of our partners, such as Apple Premium Resellers, Microsoft, Bouygues Telecom and Orange.”
“We intend to replicate these successes in other high-potential verticals to continue to accelerate our pace of growth.”
Read more: An interview with the latest French fintech unicorn to set its sights on the UK
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