Finstar Financial Group acquires and invests €15M of funds into Euroloan, Finland-based international finance company
Finstar Financial Group (“Finstar” or the “Group”), an international Private Equity Group, has announced that the Group has acquired an equity stake in Euroloan Group PLC (“Euroloan”), a rapidly growing international finance company.
Alongside the acquisition, Finstar will provide Euroloan with a EUR 15 million funding facility. Euroloan intends to use the funds to accelerate the development of its FinTech products and further develop its services. Finstar also has the option of further increasing its equity to a significant level.
Euroloan’s services for consumers include a Virtual Credit Card, which offers individual revolving credit limits, as well as pricing and repayment plans for each customer, based on an advanced proprietary scoring engine. Customers get 24/7 access and instant payment through a fully automated service. Euroloan’s corporate solutions enable merchants to offer multichannel payment solutions to their customers at online and traditional stores (POS), including invoice, instalment and credit account payment options. These payment options can be offered under the merchant’s own brand.
The new partnership will see Finstar and Euroloan share expertise that will assist both parties with the strengthening of each other’s positions both in terms of their involvement in the FinTech industry and Euroloan’s expansion into North European markets.
Nick Jordan, CEO of Finstar, commented:
“Over the years Finstar has developed substantial expertise and valuable relationships in the FinTech industry. Euroloan is a rapidly growing FinTech company with impressive technical capabilities, an experienced management team, a unique business model and significant international growth potential. The company matches our strategic focus perfectly and we look forward to contributing to its development and delivering exceptional results.”
Tommi Lindfors, Chairman of Euroloan, commented:
“The development of a partnership with Finstar is a natural step towards expanding Euroloan’s horizons and taking us to the next level of our development. Finstar is a pioneer in the adoption of innovative, cutting-edge technology which it successfully implements in very competitive financial markets to develop thriving FinTech businesses. Finstar’s financial strength and invaluable experience in the FinTech space will enable Euroloan to focus on further expansion while maintaining its financial stability.”
Over the past few years, Finstar Financial Group has significantly increased the scale of its investments in financial services companies specializing in consumer finance.
Source: Finstar Financial Group Press Release