Credisson: consumer finance that changes the face of retail

Credisson: consumer finance that changes the face of retail

Year of investment

2004

Status:

Exited Investment

The sprout that grew into a big tree

Credisson was the first consumer finance company in Romania. It was developed within the Flanco organization during the mid-90s, pioneering installment loans for the purchase of white and brown goods. In 2003, it was spun-off from Flanco to provide consumer finance products for a wider range of retail companies.

Credisson swiftly became the leading consumer finance company, with more than 200 points of sale generating in excess of EUR 150m in annual loan volumes.

In 2005, Oresa and Florin Andronescu sold the company to Cetelem, part of BNP Paribas. Since then, the company has been renamed Cetelem Romania and has continued to grow and prosper under the management of its new owners.

Key facts:

  • Credisson has developed installment products in Romania since 1997
  • Proprietary IT system and credit scoring system installed in all points of sale
  • More than 200 points of sale across Romania
  • Cooperation agreements with more than 20 leading retail chains
  • Annual loan production in excess of EUR 150m