Credissimo, a leading European FinTech group that utilizes innovative proprietary technology to provide instant online consumer finance solutions since 2007, has made another huge step in its development by partnering with the Japanese-based Crowd Credit, an established and fast-growing online marketplace lending platform. Crowd Credit would offer Japanese investors the opportunity to invest and participate in the rapid growth prospects of Credissimo by providing EUR and JPY denominated long-term financing vehicles up to EUR 10m.
As one of the most dynamically developing FinTech structures in the non-banking financial (NBF) sector, Credissimo strives to continuously provide innovative tech solutions to enhance its leading positions on the online consumer finance market in Europe and around the world.
Structured entirely online, Credissimo's business model has no reliance on a physical network to achieve growth and service coverage. Through its proprietary state-of-the-art 360 degrees business platform that excels the fast and rigorous scoring algorithms based on machine learning and automated streamlined instant decision making flows, the company is capable of addressing the financial needs of customers with higher risk standing, while minimizing both cost of risk and cutting down service delivery time to market leading levels.
On the other end, Crowd Credit is a Japanese online marketplace lending platform that bridges the gap between the global credit market and Japanese investors by providing debt capital on a global scale to a variety of different sectors, including peer to peer lending platforms, non-bank financial institutions, microfinance institutions, and renewable energy. Since its inception in 2013, the Company has aimed to connect the debt borrowers in countries with limited capital access and the investors in a country with little investment opportunities, namely Japan. As of May 2021, Crowd Credit has raised over USD 332 million from about 50,000 registered investors.
"In the past couple of years, we have been searching for partners to share our goals and dreams to create technology-driven products tailored to fill the gap in the market and fully satisfy our customers' requirements. We are very delighted to have found such a trusted and renowned partner in Crowd Credit" shared Mr. Iankov.
So far in its almost 15-year history of successful traction and sustainable development, Credissimo has granted more than EUR 230m loans towards retail customers, while achieving organic sales and portfolio growth of above 20% per year. Recently, Credissimo began diversifying its product offerings by entering the sale & leaseback marketplace, as well as implementing an overdraft facility targeting its most loyal customers.
"The current offerings of consumer finance products place Credissimo between the subprime segment and the aspiring near-prime. The medium-term goal for us would be to further grow our current portfolio size, as well as expand in the near-prime segment in terms of new diversified products. This is where our partnership with Crowd Credit is so crucial. Crowd Credit would provide us with the opportunity to continue innovating and growing, providing access to affordable personal finance solutions to an even wider range of customers" concludes Mr. Iankov.
Credissimo, a leading European FinTech group that utilizes innovative proprietary technology to provide instant online consumer finance solutions since 2007, has made another huge step in its development by partnering with the Japanese-based Crowd Credit, an established and fast-growing online marketplace lending platform. Crowd Credit would offer Japanese investors the opportunity to invest and participate in the rapid growth prospects of Credissimo by providing EUR and JPY denominated long-term financing vehicles up to EUR 10m.
As one of the most dynamically developing FinTech structures in the non-banking financial (NBF) sector, Credissimo strives to continuously provide innovative tech solutions to enhance its leading positions on the online consumer finance market in Europe and around the world.
