Euroloan has expanded its operations to Poland

Euroloan, the leading Consumer Finance FinTech company providing services across Europe, has launched a virtual credit card service in Poland. Euroloan sees great potential in the Polish market and expects its operations to be profitable already in the first year.


Helsinki, 2013-12-17 15:39 CET (GLOBE NEWSWIRE) -- The decision to enter the Polish market is based on extensive market research done by Euroloan in key European markets.

“The strong market potential and similarities in the consumer payment behavior with our current customers were among the key decision-making factors. We also placed high value on the advanced IT systems in the Polish financial sector, as our systems are always tightly integrated with the local banking systems. Our first experiences in this market are very promising,” says Samuli Korpinen, CEO of Euroloan Consumer Finance PLC.

Euroloan is a leader in financial technology (FinTech), having developed some of the most efficient proprietary business models and systems in consumer finance today. Euroloan’s credit process is fully automated and makes it possible to apply for a credit and get the loan approved within minutes from applying online. The company also offers its customers the possibility to choose their own payment plan.

“Our successful operations in Sweden since 2012 have proven the efficiency and scalability of our business model that we first developed, tested and used in Finland. We now felt ready to expand to Poland, one of the largest and fastest-growing consumer markets in Europe”, continues Mr. Korpinen.

Euroloan uses advanced analytics and profiling tools to get a better understanding of local customers. Good analytics and efficient use of data benefits Euroloan’s customers through lower costs and higher credit limits.

“The target group for our services includes both quick loan customers and bank customers. We believe that our transparent pricing conditions are attractive. Our customers always know what the total cost of a loan will be – there are no surprises,” concludes Mr. Korpinen.

Euroloan is the first company in Poland to offer its customers a revolving credit limit. A revolving credit limit is a line of credit open to the limit agreed between Euroloan and a customer, which can be used again and again even after a partial repayment of the credit used, and which is always available when needed.

Euroloan Consumer Finance PLC operates in Finland, Sweden and Poland and is planning to expand rapidly over the next several years. During six years of operation, the company has lent over 60 million Euros and made more than half a million credit decisions.

Euroloan Consumer Finance PLC is part of a rapidly growing international FinTech group, Euroloan Group PLC, headquartered in Helsinki, Finland. 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 company 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. Information about the company can be found at www.euroloan.com and the new revolving credit service in Poland at www.euroloan.pl

         For more information, please contact
         Mr. Samuli Korpinen, CEO
         Euroloan Consumer Finance PLC
         tel. +358 012171004