07 februari 2020 • Deventer • 2 minute read
BNP Paribas Asset Management (BNPP AM) announces strategic partnership with Dutch alternative credit platform Fundion, as part of further expansion of its SME financing activities in the Netherlands.
Fundion is a fintech credit platform focused on, among other things, SME lending and providing servicing of SME loan portfolios. In doing so, Fundion offers investors easy access to the Dutch SME lending market. It was founded in 2017 by CEO Art van Bruggen, along with fintech lending IT provider Topicus and Credion, the largest nationwide network of SME financing specialists in the Netherlands.
BNPP AM's SME Alternative Financing platform finances loans through its partners, which are funded by institutional investors. The partnership with Fundion gives BNPP AM access to Credion's network of more than 120 SME financing specialists. In addition, it can benefit from Fyndoo, Fundion's IT platform. Fyndoo is an advanced rule-driven system that includes high-end risk management models and credit approval criteria. This includes the KYC checks Fundion performs in line with BNPP AM's global standards.
Through its 2018 partnership with British-Dutch credit specialist Caple, BNPP AM took out its first loan in February 2019. The SME Alternative Financing platform focuses on senior loans, unsecured and with a fixed interest rate. It covers loans between EUR500,000 and EUR5 million.
Stéphane Banchoz, Head of SME Alternative Financing at BNPP AM: ‘We selected Fundion because they offer easy access to the Dutch SME lending market through their association with Credion. Our partnership with them will allow us to build on our existing capabilities in the Netherlands and enable us to further diversify our SME loan portfolio for our institutional clients.’
Art van Bruggen, CEO and co-founder of Fundion: ‘Fundion is very pleased to partner with a professional and reliable party like BNPP AM. By providing loans without collateral, we go further than traditional financiers. By working with the advisor and the bank or other financier, we can ensure that SME entrepreneurs' ambitious growth plans can be financed.’
Visit the website of Fyndoo for more information or contact Jamie Burink
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