The deal will see the Frankfurt-based lender increase its maximum unsecured SME loan duration.
BNP Paribas Asset Management has continued its march into the alternative SME lender market with a new strategic partnership with Creditshelf.
The firm, through its SME Alternative Financing platform, has already struck partnerships in the UK and the Netherlands, with Germany now the latest country in its quickly expanding reach across Europe.
Creditshelf will expand its product offering to loans from €500,000 to €5m with terms as long as eight years.
Stéphane Blanchoz, Head of SME Alternative Financing at BNPP AM, says the partnership with Creditshelf allows entry to the vast German market, alongside its existing offering in the UK and the Netherlands.
"We have chosen Creditshelf as our partner because of their prominent position within alternative finance for German SMEs, which will enable us to further diversify our SME loans offering for institutional clients."
Dr. Daniel Bartsch, founding partner and Board Member of Creditshelf, says the partnership with BNPP AM, one of Europe’s largest and most renowned asset managers, highlights the attractiveness of digital SME financing for institutional lenders.
"The partnership with BNPP AM is another component of our growth strategy and we expect positive network effects on both sides of the Creditshelf platform. The extended term of up to eight years gives our customers even more flexibility, as banks in Germany do not typically offer such long tenors for unsecured growth financing."