The banking group plans to lend more than EUR 1 billion per year across Europe. BNP Paribas Asset Management has expanded its SME Alternative Financing franchise with a strategic partnership with SME lending platform Code Investing.
Formerly an equity crowdfunding platform called Crowdbnk, Code - which has to date lent mainly in the min-bond space - will be an origination partner to BNP Paribas Asset Management with the platform providing direct lending access to unsecured SME loans of between GBP 500,000 and GBP 5 million.
Code says it has facilitated GBP 47 million in lending through its platform to date, although much of this cash was raised as mini-bonds, according to documents seen by AltFi. The platform also appears to have facilitated a further GBP 41 million from legacy equity raises before its pivot to debt, according to the same documents.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now