Younited is a French instant credit fintech that has recently raised €60m to expand its innovative credit offering.
Younited was founded in 2014 to make access to CreditCredit more convenient, transparent, and cost-effective.
This article will overview Younited and its innovative approach to instant CreditCredit.
Overview of Younited
Younited is a French fintech company specializing in instant CreditCredit. Founded in 2011, the company has raised more than €187 million in funding rounds and is backed by investors such as CNP Assurances, Andera Partners, ACE Management, and Idinvest Partners.
The rapid growth of the business is driven by its innovative approach to online and mobile lending platforms:
- Instant decision-making
- Automated processes
- Big data analysis of borrowers’ creditworthiness
- Close engagement with its partner banks
Through this approach, Younited can grant loans to qualified customers within minutes after application – an exceptional service for borrowers and financial institutions.
The platform through which you access Younited’s services might look like a regular loan operation – but behind the scenes lies a complex system that leverages cutting-edge technology to analyze credit risk with maximum accuracy. Their sophisticated digital processes help lenders quickly identify potentially risky customers without unnecessary delays or costs. In addition, by eliminating manual methods from the process – such as paperwork or phone interviews – they can offer unparalleled speed and efficiency when assessing customers’ applications.
Through this disruptive approach, Younited has become one of the most innovative leaders in the instant credit market – with greater control over who gets accepted for a loan and better security for lenders against potential bad debt/fraud cases. This strategy has lent them great success, recently leading to the raising of €60 million in the latest round of funding.
What is Instant Credit?
Instant CreditCredit is a type of personal loan product that was developed and popularized by French fintech Younited. It allows borrowers to obtain quick and convenient loans online, offering a fast and up-to-date borrowing alternative to more traditional bank and cash loans. In addition, using Machine Learning algorithms, Instant Credit enables customers to receive loan offers with pre-set payback terms quickly and without exorbitant interest rates.
Instant CreditCredit was designed to give consumers an easy access point for financing large purchases or consolidating existing credit lines. The united application process eliminates the lengthy paperwork and tedious waiting period associated with most loan products. Instead, consumers fill out their applications online and can receive their loan decisions within minutes without having to leave the comfort of their homes or office.
The Instant Credit process also affords customers greater opportunities for control regarding their borrowing needs – from customizable payment schedules to optional services such as system refunds or overpayment protections; Instant Credit provides flexibility and security in lending decisions providing individuals the opportunity to structure their finances in the most effective way possible. This innovative approach has been well received by consumers, leading Younited to raise more than €60 million in late 2020 as it looks toward continued expansion of its Instant Credit offering.
Younited’s Innovative Approach
French fintech Younited has been on a mission to innovate the instant credit space since its launch in 2013. Recently, the company raised €60 million in a Series C funding round, demonstrating that its innovative approach to instant CreditCredit has resonated with investors.
In this article, we will explore Younited’s unique approach to instant CreditCredit and how the company uses technology to revolutionize the industry.
Automated Credit Risk Management
Younited leverages state-of-the-art data science, engineering, and artificial intelligence algorithms to design a system of automated credit risk management. The innovative approach enables you to receive a customer’s credit score and assess the associated risks in under three seconds. In addition, the AI algorithms detected customer data patterns to accurately predict the probability of payment defaults, with Younited being able to expect at least one year ahead with 94% accuracy.
Younited’s proprietary risk assessment modules perform nearly quick onboarding decisions, which is critical for fintech companies as it allows them to offer instant credit services without incurring unnecessary costs.
The automated risk assessment process reduces standard decision time from several days or weeks down to seconds. It facilitates smoother loan servicing operations by cutting out most paperwork and manual input checks while improving fraud detection capabilities by almost 50%. This significantly lowers operational costs while increasing the overall accuracy of predictions and the effectiveness of on-time payments.
In short, Younited’s automated credit risk management provides customers with better services faster when it comes to online personal loans like home improvement loans or doctor’s loans thanks to smarter AI algorithms that automate the mapping of individual financial profiles from publicly available sources like official regulations and social media sources, making rapid loan decisions without sacrificing safety or security in the process.
Use of Machine Learning and AI
In France, instant credit fintech Younited has attracted hundreds of thousands of customers since being founded in 2015. This is mainly due to their innovative lending approach and the use of technologies like machine learning and artificial intelligence (AI).
Younited has created a proprietary technology stack that improves the customer experience while making credit decisions simpler, faster, and more transparent. Their machine learning models use natural language processing (NLP) to identify patterns in customer input data and determine when lending decisions should be made. AI assists with fraud detection and improves customer service interactions by providing quick responses to customer queries. In addition, they have employed big data technologies—using both structured and unstructured data – which allow them to make more informed risk-based decisions when granting loans.
Younited also uses an automated system for lines that allows for instantaneous credit line evaluations without the need for additional manual input from loan processors or risk management teams. This way, credit approvals are made faster than before with more accuracy without putting a strain on the resources previously required for loan computations.
By staying up-to-date with the latest technological trends in financial services, such as blockchain and digital banking platforms, Younited has brought its innovative lending process even further to create a better product offering for its customers. All this combined helped Younited raise €60m during their latest funding round led by Eurazeo Growth, which will further deepen their technological capabilities and expand into new markets within Europe.
Data-driven Decision Making
Data-driven decision-making is a cornerstone of Younited’s innovative approach to instant CreditCredit. This has allowed the French instant credit fintech Younited to raise €60m in funding, enabling the company to provide its customers with a fast and secure application process.
To ensure that decisions on lending requests are taken responsibly, Younited uses sophisticated models imbued with machine learning algorithms. The goal is to provide an automated yet personalized experience for customers. Based on predictive analytics, dynamic scoring techniques are then implemented in real-time using cutting-edge AI technologies such as deep learning and natural language processing (NLP).
The result is an efficient and accurate repayment system that gives customers complete control over their credit goals. In addition, customers can easily manage their loans through the app and get personalized tips to make sound financial decisions confidently. This innovative use of data has solidified Younited’s place as one of the most trusted companies in French instant credit fintech technology today.
Benefits of Younited’s Approach
French fintech Younited continues revolutionizing the instant credit market with its innovative approach. This approach, largely fuelled by the recent €60m funding the company received, has the potential to bring about a range of customer-centric benefits.
In this article, we will look at some of the key benefits of Younited’s approach to instant CreditCredit.
Faster Credit Approval
Younited’s approach to instant CreditCredit gives users unprecedented application and approval process speed. It takes just a few short minutes for customers to complete the online application and submit it for review. One of the most important benefits of Younited’s approach lies in its ability to complete a credit assessment in real-time; rather than taking days or weeks for manual reviews or waiting for customers to provide paperwork, Younited can make personalized loan offers within minutes.
This streamlined process also helps reduce delays due to busy workloads or inexperienced customer service agents who are unfamiliar with banking regulations and financial terminology. In addition, once a customer has completed their application, they can expect to receive an automated response almost immediately informing them whether their loan was approved or rejected and any additional information they may need.
The advantages of faster credit approval are undeniable; with Younited’s service, customers can access funds quickly without waiting multiple days or weeks. This allows them the flexibility necessary for quick financing without sacrificing quality standards when approving applications. Furthermore, this fast approval process is designed as part of Younited’s focus on customer satisfaction and commitment to user privacy; customers’ personal information is only used internally and never shared with third parties without prior consent.
Improved Risk Management
Younited has taken a unique approach to improve risk management in instant CreditCredit. The company has developed new proprietary models combining machine learning and advanced analytics to detect patterns and estimations of future trends accurately. This helps Younited in two ways.
First, the new models enable a much faster evaluation of individuals’ creditworthiness and applications, thereby reducing manual processing time for loan issuers—or even eliminating it for those already familiar with Younited’s systems. This drastically reduces the time required for loan applications from a few days to a few hours—or even mere minutes if an individual is already known to the system.
Second, the improved risk management provided by these models means that lending institutions are far less likely to be exposed to default on their loans—reducing both their operating costs and expenses related to bad debt. Third, by reducing bad debt losses through its sophisticated methods, Younited can offer more competitive interest rates while still providing excellent returns on investment to its lenders. Needless to say, this provides lenders with an added incentive to take advantage of the company’s services.
Increased Transparency
Younited’s approach to instant CreditCredit has revolutionized the industry by providing consumers with improved transparency when it comes to borrowing. Thanks to Younited’s decision-making process, customers can get an instant loan decision in less than 10 minutes, with no need for a guarantor or other guarantors, and zero paperwork. In addition, the whole process is fully digital and transparent for the customer – something the traditional lending industry has long struggled to provide.
Each time a customer applies for a loan through Younited, their application is processed within seconds by an easy-to-use algorithm based on multiple data sources from third parties. Combining data from customer profiles and credit history, Younited provides tailored financial solutions while helping lenders reduce risk and protect themselves from non-performing loans.
However, what sets Younited apart is its commitment to giving customers more control over their financing decisions. The company’s processes are designed to maximize transparency so that customers feel comfortable utilizing their products and services. As such, Younited guarantees that no hidden fees are included in their services – with all costs displayed upfront for users before they sign any documents – something unheard of in the traditional financing world.
French instant credit fintech Younited raises €60m
French instant credit fintech Younited recently raised $60 million through its latest funding round, indicating strong investor confidence in the innovative approach of the business.
The new funding comes as the platform gains popularity and traction in the European market, particularly in France. As such, this is a great opportunity to examine how Younited is changing the digital finance landscape.
Details of the €60 million funding round
On Tuesday, Paris-based French instant credit fintech Younited announced it raised €60 million in a funding round led by Eurazeo, Allianz X, and CNP Assurances. The financing will be used to double the size of the current loan portfolio and extend CreditCredit to more than 500,000 consumers throughout Europe.
Younited’s innovative approach to instant CreditCredit has quickly made them the European leader in their field. As a result, they are disrupting conventional channels in the financial sector, providing more accessible and transparent lending options for customers across Europe. This latest funding round shows investors have faith in Younited’s ability to further revolutionize the industry with their cutting-edge platforms that offer competitive interest rates and automated loan decision processes.
The new capital will accelerate Younited’s growth with plans to move into Italy, Spain, Germany, and other new markets by 2021. The company also plans to double its customer base by expanding its home loan products and consumer product offerings. Younited currently has 25 offices across five countries with over 100 employees dedicated solely to customer service and risk management operations.
Who participated in the funding round
Younited, the French instant credit fintech, announced it had secured €60 million in a Series-C funding round led by existing investorsPartech, DN Capital, and Seventure Partners. Other participants included prominent European VCs such as SBI Group, Aurel BGC, and Connect Ventures. This round will bring Younited’s total funding to €115 million since its inception in 2011 and puts the total capital raised by European fintech to just over € 1 billion this year.
The funds will be used for the continued expansion of Younited’s operations and to finance further development of the company’s technology solutions — including enhanced data capabilities that support better customer management and quicker onboarding. This investment illustrates both confidence in the potential of Younited to lead Europe’s online personal credit market and recognition of the company’s innovative approach to instant loans based on predictive analytics.
How will the funds be used?
Younited’s recent funding round of €60 million will enable the innovative French fintech to continue developing its revolutionary approach to instant CreditCredit and secure a leadership position in the European market. The funds and additional sources of capital will be used to accelerate product development, expand the reach of Younited’s services, increase customer service capacity, and grow its presence in multiple European countries.
Younited is looking to use its new sources of capital to strengthen its competitive edge by continuing the development of features such as improved loan services and personalized customer experiences that expand access to fair CreditCredit across Europe. This increased focus on product innovation allows Younited to better meet consumer needs with smarter solutions that support their Instant Credit products and upcoming Savings Suite.
The funds also provide Younited with a financial boost for marketing activities designed around innovation, furthering its mission to improve consumer financial lives through technology-driven experiences. The company is particularly keen on increasing analytic capabilities for greater insights into consumer behavior, enabling them to deliver real-time responses too.
All these initiatives are intended to support Younited’s mission for responsible lending combined with driving improved operating efficiency and ensuring regulatory compliance, cementing their place at the forefront of European innovation within their core markets.
Conclusion
Younted is a French Fintech start-up that has revolutionized the way people access instant CreditCredit. In a fundraising round that attracted a 60 million Euros investment, Younited has demonstrated the potential of its innovative approach to the problem of credit access.
This article will carry out an analysis of the effects of Younited’s success and conclude the potential impact on the market.
Summary of Younited’s approach to instant CreditCredit
Younited is a French instant credit fintech that has raised €60 million this year. With their innovative approach to short-term finance, they are quickly gaining ground in the European market and beyond. Founded in 2011, they were one of the first companies to offer a marketplace approach to instant CreditCredit. They allowed users to compare multiple offers from leading lenders and banks and select one tailored to their individual needs.
What sets them apart from conventional financiers is their use of big data, machine learning, and artificial intelligence technologies, which allow them to provide customers with customised loan offers based on their individual profiles. This requires very little paperwork or other typical paperwork associated with traditional financial services. Additionally, Younited has developed proprietary algorithms for assessing risk levels for real-time decision making. This makes it possible for consumers to get immediate responses when requesting funds and loans with higher confidence that they can make repayments on time.
As part of their mission to provide accessible finance solutions for everyone, Younited also offers its services free of charge and provides clear information about conditions associated with its products such as interest rates or repayment schedules. Their goal is to provide a transparent, seamless experience while providing accurate information so that customers can make informed decisions when considering different loan options available on the platform.
Through its partnerships with reputable lenders over Europe, DoBanking also serves as a trusted intermediary between banks and customers by increasing financial inclusion across countries where access to financing is often difficult or impossible due to stringent credit requirements imposed by traditional financiers.
Summary of Younited’s recent funding round
Younited, a French instant credit fintech company, recently announced their successful fundraising round of €60 million. This series A funding round was led by Earlybird with participation from existing investors such as Balderton Capital, Creandum and Orange Digital Ventures. Younited’s innovative approach to helping people access financial services has been recognized by investors across Europe due to its award-winning solutions and customer-centric approach.
With this fresh capital, the company plans to further develop its innovative credit platform and expand into new markets throughout Europe. The goal is for Younited to become the leading provider of instant credit products across Europe. Younited will also use the funds to strengthen their team in data science and engineering, which is necessary for taking on new projects and meeting customer needs.
This latest funding round is a testament to Younited’s commitment to providing customers with secure, fair and effortless credit products backed by cutting-edge technology solutions. With support from their investors as well as expertise from their talented team members, Younited remains on track in delivering results that are both innovative and customer driven.
Future prospects for Younited
Younited has evolved to become one of the most innovative and successful French fintechs in the European market. This is thanks to the team’s relentless pursuit of improving the end user experience with instant CreditCredit. Through its use of cutting edge technologies, Younited has been able to provide an innovative approach to providing its customers with access to the instant CreditCredit they need. The company’s comprehensive data-driven approach, combined with a solid invoice financing model, has enabled it to not only offer loans more quickly but also more responsibly, helping maximize customer satisfaction and success rates.
As the European market for personal finance providers continues to evolve and mature, Younited is well positioned to continue playing a key role in this sector. Going forward, Younited looks set to expand further across Europe and increase its customer base by capitalizing on its established product offerings as well as tapping into new markets such as Brazil. Additionally, Younited will continue putting priority efforts towards leveraging technology across its core activities as it works towards continually improving customer experience. These efforts should significantly contribute towards ensuring that Younited remains at the forefront of French fintech for many years to come.
