Paris-based Younited Credit announced today that it has raised a $48 million round of venture capital as the fintech startup seeks to extend its reach across Europe.
Younited offers a crowdsourced lending model for small businesses in France, Spain, and Italy. Including this latest round, the company has now raised $124 million in funding.
Investors in the round include Bpifrance, Matmut Innovation, and Zencap Asset Management. The company now has 190 employees working in Paris, Barcelona, and Rome. It plans to use the additional money for expansion, as well as product development. And it hopes the participation of Bpifrance, the government-backed national bank and France’s largest venture investor, will also give the fintech product a boost.
“This success allows us to accelerate our international development,” cofounders Charles Egly and Geoffroy Guigou said in a joint statement. “We are already in the process of launching in new countries to assure our leadership in Europe. The experience of Bpifrance with accelerating international startups will be extremely useful to us.”