Helsinki, Finland, May 11 (Korea bizwire) — Euroloan has doubled the size of its structured financing facility with funds managed by affiliates of Fortress Investment Group LLC (NYSE:FIG), from EUR 60 million to EUR 120 million. The credit line comes with the news that Euroloan increased net revenue by 90% in 2016 and is now focused on scaling its business significantly across Europe.
“The previous deal with Fortress was the largest in the company’s history and now we’re doubling it” says Tommi Lindfors, Chairman of the Euroloan Group. “Further, this is the biggest funding deal ever made by an unlisted company in Finland. This is a real testament to our internal capabilities, track record of sustainable growth and the value of our long term partnership with Fortress.
This deal enables the Group to focus on our core strengths, leveraging our state-of-the art digital lending systems to generate higher volumes and acquiring new customers as we accelerate and expand our business across Europe.”
Euroloan’s digital consumer finance services include pay by invoice, credit and payment solutions for point of sale terminals, credit cards, e-commerce platform support and real-time online and mobile lending.
Euroloan Group Plc is a rapidly growing digital financial services group providing consumer loans, online and in-store pay-by-invoice capability, revolving credit lines and credit cards. The group operates in Finland, Poland and Sweden and has plans for significant growth across Europe.
For more information, please contact:
Euroloan Group Plc
Tel +358 10 217 1003
Source: Euroloan Group Oyj via GLOBE NEWSWIRE