France-based peer-to-peer lending platform Prêt d’Union has raised €21m ($34m) in a series D round featuring backers including media company Schibsted and insurance firm AG2R La Mondiale.
The round was led by investment firm Eurazeo, and also featured financial services provider Crédit Mutuel Arkea, venture capital firm Weber Investissement and private investor Pierre Kosciusko-Morizet.
Founded in 2011, Prêt d’Union operates a peer-to-peer lending platform that allows individuals and businesses to invest their money by lending it to individuals for specific projects.
The series D capital will enable the company, which currently only operates in France, to fund an expansion across Europe, beginning with Italy in early 2016.
Part of the funding will also be used to support Prêt d’Union’s growth in France by expanding its team and investing in customer service, and by developing new products, particularly those that exploit big data technology.
The company has raised approximately €40m in funding to date. AG2R La Mondiale participated in a €10m series C round in 2013 that also included Crédit Mutuel Arkea, Weber and Kima Ventures.
Charles Egly, president and chief executive of Prêt d’Union, said: “In five years’ time, Prêt d’Union will be the market leader in continental Europe and operate in at least five countries.
“Prêt d’Union will definitely complete an initial public offering within five years,” he added, joking that the company “will maybe even have bought [US-based peer-to-peer lending giant] Lending Club by then.” [translated from French by Global Corporate Venturing]