Helsinki, Finland, 2015-02-20 08:34 CET (GLOBE NEWSWIRE) -- With funding secured, the Group now is set for continued rapid growth in its consumer finance business. Samuli Korpinen, the CEO of Euroloan Consumer Finance PLC comments: “Our virtual credit card product has been extremely well received in all the markets we operate in and we have experienced a strong growth rate in our lending volumes during 2014 to the extent that all available capital had been employed to customers. The demand for our services has grown in all markets to the extent that this growth rate is expected to continue in 2015, which now is made possible with the new financing facility in place. We definitely expect to see high growth rates in our 2015 financials”.
In November 2014, Euroloan mandated a consortium of four international financial services providers to raise capital to meet Euroloan's rapid growth targets and to strengthen the Group's capital structure ahead of Basel III and CRD IV capital requirements.The total planned structure includes a combination of Common Equity Tier I, Additional Tier I, Tier II and senior debt exceeding total of EUR 100 million during the next 2-3 years from which Euroloan now secures 15 million Euros. A strong capital base gives the Group flexibility to grow while maintaining high capital ratios on its balance sheet.
“In the rapid growth phase liquidity management, compliance, risk management and consistent processes are the key factors to success. Thanks to our extraordinary Team, I believe we have a very bright future ahead of us. Having witnessed the hard work our Team has put in building the company to handle rapid growth, I am very proud of being introduced to the list of Europe’s fastest growing companies, the Inc. 5000” Tommi Lindfors, Executive Chairman of Euroloan Group PLC comments.
Euroloan Group PLC is the parent company of the rapidly growing international FinTech (Financial Technology) Euroloan group, headquartered in Helsinki, Finland with offices in Stockholm, Sweden and Warsaw, Poland. Euroloan has developed the most efficient business models and systems in the market, and is one of the leading service providers in key European markets. The Group provides customers with real-time credit, enabled by a fully automated cloud service. Euroloan has consolidated its market position and increased its market share continuously from the time the company was established in 2007. More information is available at www.euroloan.com.
Jonas Lindholm, CEO
Euroloan Group PLC
Tel +358 10 217 1003