Younited becomes a company listed on Euronext Amsterdam and Euronext Paris by joining forces with Iris Financial

(Boursier.com) — Iris Financial, a company listed on Euronext Amsterdam and specializing in financial services, and Younited SA, a European credit institution having supported more than 1.2 million customers since its creation, announced the signing of a agreement as part of their merger.

Younited has designed an innovative technology platform, powered by cutting-edge APIs and artificial intelligence, enabling it to offer a pan-European and scalable instant credit platform transforming the lending market with transparent financing solutions and experience exceptional user. At the end of 2023, Younited has financed more than 6 billion euros in loans via its direct and indirect acquisition channels (merchant and banking partners)

On the occasion of this merger, Iris Financial will inject between 150 million and 200 million euros in capital into Younited, in return for the issue of new Younited shares, allowing the latter to strengthen its CET1 regulatory capital. .
This investment will enable Younited to continue and accelerate its growth strategy, thanks to the significant strengthening of its balance sheet, with the objective of generating a positive net result by the end of 2025, significant growth in loan origination and an ROE of 25%+ by 2027.

Younited will be able to invest in its innovative technological platform in order to deepen its merchant partnerships and offer innovative financial products to the entire value chain, thus creating a unique ecosystem.

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A unique positioning

Iris Financial is convinced that Younited’s underwriting strategy and the experience of its management team will allow the latter to be uniquely positioned to benefit from the growth and rapid developments of the consumer credit market.

Iris Financial will remain listed on Euronext Amsterdam and will file an application for a second listing on Euronext Paris.
Iris Financial will be renamed Younited Financial following the Combination.

The listed company once renamed will have a newly constituted board of directors which will consist of 10 members, half of which will be independent directors.
Completion of the transaction is subject to regulatory authorizations in force and planned for Q4 2024.

Gilles Grapinet, Chairman of the Supervisory Board of Younited, said: “Over the last ten years, as a regulated financial institution subject to the highest standards in responsible consumer credit, Younited has established itself as the most technologically advanced company in its field of activity in Europe, using the combined power of its real-time decisioning systems based on DSP2 technology and delivering a cutting-edge digital experience for its clients Consulting. supervisory board of Younited is deeply convinced of the strength of the merger signed today with Iris Financial and unanimously supports this pivotal transaction for Younited which will take advantage of the remarkable complementarities between the parties and allow Younited to unlock its growth and value creation potential. in the years to come.”

Charles Egly, Chairman of the Management Board and co-founder of Younited, commented: “We are delighted to enter into a combination with Iris Financial and its shareholders who will provide us with the expertise, network and capital we need to execute our strategic plan. This operation, the group will benefit from a solid balance sheet and will be very well positioned to continue to develop in the consumer loan market and to conquer market share. We occupy a unique position in this market, with a technological advantage. certainty, a clear strategy and an experienced management team to take advantage of this opportunity and create value for our shareholders.”

Elizabeth Critchley, Managing Director of Iris Financial, said: “We created Iris Financial to work alongside long-term shareholders to partner with service businesses whose growth we can accelerate and create value by giving them access to our expertise, our network and our rating platform We are delighted to announce our partnership with Younited, one of the most promising players in consumer credit in Europe. unique, scalable and best-in-class technology that accelerates consumer lending decisions while reducing credit risk. We believe the merger of this FinTech consumer credit champion with our established network of investors will benefit us. -term and experienced financial investment professionals will produce attractive returns for shareholders in the future.”

Description of Younited

Younited is a regulated player in European consumer credit having supported more than 1.2 million customers in the EU since its creation. Younited leverages an innovative technology platform, powered by cutting-edge API and artificial intelligence, to build a scalable pan-European instant credit platform transforming the consumer lending market. Younited aims to contribute to improving the financial well-being of European households.

Younited employs around 520 people and operates in 4 countries (France, Italy, Spain and Portugal) with more than half of its loans granted outside France in 2023.

At the end of 2023, Younited had financed more than 6 billion euros in loans. Consumers can access Younited’s products through two acquisition channels: directly and through its merchant and banking partners, each representing approximately 50% of credit production in 2023.