Mash Group Oyj
Finstar acquires stake in Euroloan and establishes strategic partnership
The deal will support Euroloan's expansion into North European markets and strengthens Finstar's position in the FinTech sector
Helsinki, Finland, 2015-11-23 14:35 CET (GLOBE NEWSWIRE) --
Finstar Financial Group (“Finstar” or the “Group”), an international Private Equity Group, announced on 18th February 2015 that the Group has acquired an equity stake in Euroloan Group PLC (“Euroloan”), a rapidly growing international finance company.
Along with the acquisition, Finstar provides EUR 15 million funding facility. Euroloan intends to use the funds to strengthen and speed up the fintech products and services` development. Finstar has also the option to further increase its equity to a significant level.
Euroloan’s services for consumers include a Virtual Credit Card, which offers individual revolving credit limit, pricing and repayment plan for each customer, based on an advanced proprietary scoring engine. Customers get 24/7 access and instant payment in the fully automated service. Euroloan’s corporate solutions enable merchants to offer multichannel payment solutions to their customers in 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 benefit both companies as they strengthen each other’s positions in the FinTech sector 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 private investments in financial services companies, specialized on consumer finance.
For further information, please visit www.finstar.com, www.euroloan.com or contact:
Finstar Financial Group is a leading European 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.
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.