Mash Group Oyj
Euroloan Negotiating Structure Deal
Helsinki, Finland, 2017-02-08 07:01 CET (GLOBE NEWSWIRE) --
Euroloan Group PLC has entered negotiations with several parties regarding ownership structure changes. The objective of the process is to significantly strengthen Equity and facilitate Business Development. A completed deal would affect ownership within Euroloan Group. Due to local financial regulation, the change in ownership structure will require the subsidiary in Luxembourg to resubmit its banking license application to the financial regulator under the new structure. This is expected to affect the project schedule to some degree, while the benefits of increased equity and a big financial partner are obvious.
“We have a business concept that is apparently very attractive in today’s market environment”, says Tommi Lindfors, Chairman of Euroloan Group PLC. “The ability to remotely onboard large numbers of customers in a fully automated process is seen particularly valuable for digital banking. The structure deal has been under preparation for a year. We are currently in negotiations with potential partners with term sheets exchanged.”
According to CEO Samuli Korpinen, the FinTech Group would benefit greatly from the equity increase. “The deal would facilitate the growth of Euroloan Group, enabling several large business projects to be worked on simultaneously. This would take us to an entirely different level in terms of development speed, taking advantage of the great opportunities in the marketplace.”
Euroloan aims to grow notably in both the B2C and B2B field in all markets during 2017 and beyond with a focus on efficient onboarding and origination through multiple channels (omnichannel services). Services include invoicing, credit and payment solutions for points of sale, online shopping platforms and real-time online and mobile consumer finance as well as credit cards.
The Group is an integrated part of the online payment services and credit ecosystem and present where consumers and merchants meet as a fully automated part of the whole shopping process and capable to quickly integrate with many different platforms. Euroloan is focusing on co-operation with online shop platform providers and payment service providers (PSP) and has developed fully integrated payment solutions that have been a success with the major webshop platform providers, payment service providers, web merchants and also traditional shops. Euroloan’s payment solutions increase the number of successful transactions and help with the reporting and monitoring of deliveries, reclaims and charge-backs. The solutions can now be found in hundreds of web shops and all major service providers in Finland.
About Euroloan Group
Euroloan Group PLC is a rapidly growing international group, specialized in highly automated financial services and financial technology (FinTech). The Group has offices in Helsinki (HQ), Luxembourg, Stockholm and Warsaw and the team includes around 50 professionals of 10 different nationalities.
The Group operates in a mobile online environment offering credit limits, loans, money transfers, webshop payment services, invoice payments and collection services as a real-time e-business to retail customers. For webshops and sales points, Euroloan offers pay-per-invoice and sales finance solutions that are easy, free of charge, and work under the merchants’ own brands. Euroloan originates high-quality consumer receivables with continuous monitoring and servicing.
All services are truly instant and automated and include origination and debt servicing functions that traditionally have been manual, such as identification, scoring, underwriting, payments, back-office, credit monitoring and debt collection. This is made possible by Euroloan’s proprietary cloud-based banking software and secured by its ISO27001:2013-certified information security management system.
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.
For more information, please contact:
Euroloan Group Plc
Tel +358 10 217 1003