The start of the MCE project and the three-year period 2013-2015
Mediocredito Europeo S.p.A. is a financial broker with proven expertise in the Italian market for secured loans which integrated in 2012 the industrial and commercial activities of Ktesios S.p.A., historic primary industry operator with a portfolio of over 200,000 customers and an outstanding of € 2 billion.
The business plan, focused on salary-backed loans, saw the acquisition by CIR and Merrill Lynch of the business segment of Group Ktesios SpA, thus launching a complete turn around in line with the strong restructuring of the sector regulatory system, in order to rationalize and give continuity both to distribution and to processes. The start up of Mediocredito Europeo development plan, based on the three years period 2013/2015 saw the beginning of a complex investment plan by the promoting shareholders and the subsequent listing of the Company to the French Marché Libre.
In November 2014 the entry of the US Fund Seer Capital in the shareholding structure helped and supported the management who had promoted and initiated the project by consolidating the corporate structure in terms of funding and balance sheet capacity to speed up the growth plan. In November 2015 the first major securitization transaction was concluded, and it enabled the launch of the direct cycle of out payment, which is the main element in the development of the entire company system.