IuteCredit is one of the fastest-growing companies in Europe

Tallinn, Estonia, 4 March 2021. IuteCredit Europe, a leading European personal finance group, has been selected among Europe’s fastest-growing companies in the fifth annual FT 1000 ranking.

According to Tarmo Sild, CEO of IuteCredit Europe, its position in the ranking is a valuable recognition for the fast-growing personal finance company. “Our primary focus is to offer our customers exceptional personal finance experiences. Fully digital solutions with the possibility to seek additional face to face, voice to voice interaction with our staff have big business potential. As we have proven capability, and have operated profitably even in times of crises, we now aim to become the fastest growing business in all European countries where we operate” Sild confirmed.

IuteCredit has in 2020 introduced cardless ATMs and the MyIute app, a next-generation pocket solution to accede financial services fully digitally.
At year-end 2020, IuteCredit had more than 200,000 loan customers with long term loans in four countries and achieved a revenue of 56 million EUR and net profit of 5 million EUR.

Sild sees opportunities for growth both organically and by acquisitions. “We expect IuteCredit to benefit from our digitalized value streams, adding payment services and customer self-service solutions. But we also see opportunities in the acquisition market and are ramping up our business in Bulgaria again,” explained Sild.

IuteCredit is nr 172 on the list of Europe’s high-growth companies. The FT1000, compiled with Statista, a research company, lists the European companies that achieved the highest compound annual growth rate in revenue between 2016 and 2019. The minimum CAGR to make the list was 35.5 per cent this year, slightly lower than last year’s 38.4 per cent.

Read more: https://www.ft.com/reports/europes-fastest-growing-companies