CODE Investing announces that it has entered into a long term strategic partnership with BNP Paribas Asset Management ('BNPP AM') as part of the development of BNPP AM's SME Alternative Financing platform. BNPP AM will invest in loans to small businesses originated through CODE Investing, the UK's institutional marketplace for SME debt.
As an origination partner to BNPP AM, CODE Investing will provide direct lending access to unsecured SME loans of between £500,000 and £5 million.
Under the leadership of Stéphane Blanchoz, SME Alternative Financing offers BNPP AM's client base differentiated and unique access to SME lending as an asset class. The platform is currently operational in the UK, with plans to deploy across other markets in Continental Europe.
BNPP AM joins a wide range of institutions on CODE Investing's lender panel, highlighting the increasingly important role alternative finance platforms are playing in stimulating the real economy.
Stephane Blanchoz, Head of SME Alternative Financing at BNP Paribas Asset Management said: "Given the structural shift in the way that SMEs access financing, we are very pleased to have entered into a partnership with CODE Investing as part of the development of our SME Alternative Financing franchise. As BNPP AM expands its SME lending capability in the UK and in Continental Europe, the partnership will be key in originating loans to enable us to provide clients with an attractive investment offering."
Ayan Mitra, CEO and Founder of CODE Investing said: "Accessing finance has traditionally been a lengthy and frustrating process for SMEs. CODE aims to deliver a more streamlined, certain, and user-friendly experience to SMEs in search of growth capital. With our emphasis on institutional – rather than retail – lenders we believe CODE's marketplace will ultimately be able to provide SMEs with an aggregate view of financing available to them in the market.
"Our institutional partners are able to directly access SME debt more efficiently and in greater volume without compromising their internal lending preferences and credit criteria. We are delighted to be selected by BNPP AM as one of its first origination partners for the SME Alternative Financing platform and look forward to contributing to its success over the coming years."