FINSTAR
18.11.2015 09:01:51 CET | Business Wire | Press release
Finstar Financial Group (“Finstar” or the “Group”), an international Private Equity Group, today announces 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.
For further information, please visit www.finstar.com , www.euroloan.com
About Finstar
Finstar Financial Group is an international Private Equity Group. Founded in 1996, the Group has a significant experience in launching start-up projects and in restructuring and expanding of companies in selected industries. Finstar operates in financial markets, the IT and telecoms field, perfumery-cosmetic retailing and also in commercial and trade real estate. The Group has under its management assets worth a total of more than $2 billion.
Over the years Finstar has developed substantial operational experience which helps to implement a value-adding strategy, introducing high international standards of corporate governance, innovation, marketing and building competitive advantages, all of which are vital to create value in the long-term.
About Euroloan
Euroloan Group PLC (Euroloan) is a rapidly growing international finance group specialized in financial technology (FinTech). The group’s headquarters are located in Helsinki, Finland, with offices in Stockholm, Sweden and Warsaw, Poland. Euroloan has developed the most efficient financing business models and systems in the market. Euroloan’s fully automated and internationally scalable cloud banking services provide real-time credit solutions for consumers and E-Commerce. Euroloan has consolidated its market position and increased its market share continuously since the company was established in 2007. More information about Euroloan Group is available at www.euroloan.com , Finland www.euroloan.fi , Poland www.euroloan.pl and in Sweden on www.euroloan.se .
View source version on businesswire.com: http://www.businesswire.com/news/home/20151117007192/en/
Contact:
Finstar Financial Group
Public relations
Larisa
Shishkina
Marina Evseeva
Tel: +7 905 529 12 52
E-mail: Shishkina@finstar.ru
Marina.Evseeva@finstar.ru
or
Euroloan
Group PLC
Jonas Lindholm
Tel +358 10 217 1003
E-mail:
investor@euroloan.com
or
Instinctif
Partners
David Simonson
Mark Walter
Tel: +44 20
7866 7887
E-mail: David.Simonson@instinctif.com
Mark.Walter@instinctif.com
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