FSC acquired a stake in JZ Lending Ltd, enabling transformative digital advancements for Unión Financiera Asturiana in the Spanish consumer finance market.
Target Company Overview
In May 2021, FSC successfully acquired a stake in JZ Lending Ltd, which oversees the operations of Unión Financiera Asturiana (Ufasa), a prominent player in the Spanish consumer finance sector. Established in 1984 and headquartered in Oviedo, Asturias, Ufasa has established itself as an independent specialist in consumer finance.
Initially, JZ International made a partial acquisition of Ufasa in 2020. The recent investment from FSC, which has received approval from the Bank of Spain, is anticipated to expedite Ufasa's transformation and enhance its digital capabilities, positioning it for future growth.
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Industry Overview in Spain
The consumer finance industry in Spain has demonstrated resilient growth in recent years, driven by increasing consumer demand for flexible credit solutions and various financing options
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FSC
invested in
JZ Lending Ltd
in 2021
in a Buyout deal