Euroloan

The company's core business was providing immediate consumer credit to private customers. It developed a cloud-based platform that utilized advanced algorithms and machine learning for end-to-end automation of its financial services. The product portfolio included consumer loans, credit cards, and merchant payment solutions. For consumers, Euroloan offered a virtual credit card and a flexible credit account, allowing users to draw funds as needed up to their credit limit and make instant payments. The service was accessible 24/7 through a fully automated online process that didn't require application attachments, providing instant credit decisions. The company also provided payment solutions for e-commerce merchants, integrating with various webshop platforms to offer invoice and part payment services to online shoppers.

Euroloan's business model focused on generating revenue from fees and interest on its credit products, which included opening fees, annual fees, and charges for fund transfers. The company's expansion strategy led to its presence in several European countries, including Finland, Sweden, Poland, Luxembourg, and Spain. A significant milestone was a deal in 2015 that secured substantial funding and allowed the company to sell its receivables for cash, thereby increasing its capital turnover and growth potential. However, the parent company, Mash Group Oyj, faced financial difficulties and was declared bankrupt on March 15, 2021, leading to the cessation of Euroloan's operations.