CNP Assurances is Investing in Lendix
CNP Assurances, a socially responsible investor involved in funding economic growth, is taking an equity stake in Lendix, France’s leading platform for lending to SMEs. In doing so, the Group, which has a seat on the supervisory board of the fintech company, plans to support Lendix’s expansion in France, Spain and Italy.
Lendix allows French SMEs to borrow up to €1m directly from private or institutional investors. As a crowdlending platform first set up in 2015, it experienced significant growth in its business and quickly gained the top spot in the French marketplace.
With Lendix embarking on raising €12m, CNP Assurances is investing in a fintech company for the first time by taking its first equity stake in Lendix. Hélène Falchier, head of private equity at CNP Assurances, is joining the Lendix supervisory board.
The lead investor in this particular pool, CNP Assurances plans to support Lendix’s expansion in France, Spain and Italy. This capital increase is furthermore combined with a commitment in excess of €20m from Lendix shareholders to also lend to SMEs through the platform.
CNP Assurances is one of the top 50 institutional investors worldwide in unlisted companies, and one of the very top in France. The Group spends €500-700m per annum on this asset class, and in so doing supports unlisted businesses across the lifecycle. The Group recently started a scheme called Open CNP, intended in particular to finance and support the development of innovative start-ups which should, in a virtuous circle, stimulate further growth drivers for CNP Assurances and help in the company’s digital transformation.
“This first investment in fintech, in France’s number one firm in crowdlending to SMEs, demonstrates our confidence in its ability to consolidate its position as the French market leader and to conquer new markets in mainland Europe“, says Hélène Falchier, head of private equity at CNP Assurances.
“We are delighted with this first practical application of our Open CNP scheme, exposing the company to new partners in order to identify and support the development of innovative start-ups. This deal is moreover fully in keeping with the Group’s digital policy“, Magali Noé, chief digital officer at CNP Assurances, is pleased to add.