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Startup interview: Prêt d'Union

At Urban Linker, we are passionate about startups, so we're always happy to share some beautiful projects with our readers! Have a look at this interview of Thomas from Prêt d’Union.

12.11.2015

Can you tell us a bit about your formation?

After graduating from SKEMA in 2004, I joined the marketing department at PriceMinister. I had the opportunity to help out with the growth of a major e-commerce actor in France, until 2010. This experience allowed me to know all the aspects of webmarketing before jumping in the Prêt d’Union project!
 Can you tell us a bit about your formation?

Can you pitch Prêt d’Union in a few words?

Prêt d’Union is the first platform allowing personal loans between individuals in France. Borrowers get a credit with low interest rate, and investors have access to an attractive revenue on their saving products. Prêt d’Union is the Fintech in France who has raised the most money (48 million euros!). 

How did you come up with the idea?

 To pay for his taxes, Charles Egly, co-founder, chose to ask his bank for a loan instead of using his savings. His bank offered him a 14% rate, which is quite high. He thought there must be some other ways to borrow money at an interesting rate. 

What were the major difficulties you met?

The accreditation by the Banque de France was one of the hardest steps. It took us almost two years to get it, but we needed it to launch our business in France. Thanks to EU law, we can expend our activity in all Europe, starting with Italy in 2016 and Spain in 2017. 

What helped you go through this project?

From the beginnings, investors believed in us: Prêt d’Union raised 4.8 million euros, notably from our banking partner, the Crédit Mutel Arkéa. Other shareholders: Eurazeo, Schibsted Growth, Weber Investissements, AG2R La Mondiale, Kima Venture (Xavier Niel and Jérémie Berrebi’s fund), Eurazeo Croissance, Kernel Investissements (Pierre Kosciusko Morizet), the co-founders, employees, and many business angels.

What technologies do you use?

In back-end, we use .NET. For the mobile and web apps, we use AngularJS, JQuery, AJAX… And many others!

How is Prêt d’Union innovative? Why are you going to succeed?

Prêt d’Union removes the bank or financial intermediary in the consumer credit market. Because they hold a monopoly, banking establishments are not pushed to innovate. The agility of our structure (100 employees, in-house development) allows us to move really fast!

Since when is your service available?

We launched the platform in November 2011, and the first credits were granted in December of the same year. 

Were you inspired by other companies?

Lending club J the individuals credit platform in the USA has been a great inspiration for us, especially regarding their growth and how fast they became a disruptive actor on the credit market.
 
You can learn more about Prêt d’Union on their Prêt d'Union, on facebook and Twitter
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CDI Start-up 40 à 50 k€

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