BNP Paribas Asset Management (‘BNPP AM’) announces that it has entered into a strategic partnership with Dutch alternative lending platform Fundion as part of the continued expansion of its SME Alternative Financing capability in the Netherlands.
Fundion is a fintech SME loan origination and servicing platform that offers easy access to the Dutch lending market, enabling investors to build SME loan portfolios. It was founded in 2017 by CEO Art van Bruggen, together with specialist fintech lending IT provider Topicus, and Credion, the Netherlands’ largest nationwide network of specialised SME debt advisors.
BNPP AM’s SME Alternative Financing platform sources loans through its origination partners which are distributed to institutional investors. The partnership with Fundion provides BNPP AM with access to Credion’s network of more than 100 SME debt advisors, as well as enabling it to benefit from Fyndoo, Fundion’s IT platform. Fyndoo is an advanced rule-driven system that includes high-end risk management models and credit acceptance criteria. This includes applicable KYC checks performed by Fundion in compliance with BNPP AM’s global standards.
Present in the Netherlands since 2018 through its partnership with Anglo-Dutch credit specialist Caple, BNPP AM completed its first loan there in February 2019. The SME Alternative Financing platform focuses on senior, unsecured, fixed rate, amortising loans of between EUR 500,000 and 5 million.
Stéphane Banchoz, Head of SME Alternative Financing at BNPP AM, comments: “We selected Fundion as 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 loan origination capabilities in the Netherlands and enable us to further diversify our SME loans offering for our institutional clients.”
Art van Bruggen, CEO and Co-founder of Fundion, comments: “Fundion is very pleased to be partnering with a professional and reliable business such as BNPP AM. By offering unsecured lending we go beyond traditional financiers, and together with their advisers and banks we can ensure that the ambitious growth plans of SME entrepreneurs can be financed.”
BNP Paribas Asset Management
+44 (0)20 7063 7106
Art van Bruggen
+31 65 069 8691