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BNP Paribas AM partners with SME lending platform Code Investing

Monday 9 July 2018 | 09:49 AM CET

The asset management arm of the European banking group BNP Paribas has planned an expansion into the European SME lending space.

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.

More: Link
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