JZI finalized its investment in Finnish company MyLender Oy in November 2015. JZI owns a majority stake in the business, while the existing management team and co-founders retain a minority stake.
MyLender provides unsecured personal consumer loans in Finland, targeting a certain underserved customer niche in the country. The average loan ticket size is targeted to be in the range of €5,000-10,000, with an average tenor of 72 months. The management team has extensive experience in the sector, having set up Citigroup’s consumer finance business in Finland in the early 2000s as well as having founded and developed other businesses in the same space in the following years.
JZI will provide financial resources for MyLender Oy to expand its business in Finland; JZI also plans to incorporate MyLender Oy into a larger, pan-Scandinavian consumer lending platform.
For more information on MyLender, visit www.mylender.fi