Bank BNP Paribas in Poland is more open to cooperation with innovative companies, including those that are just beginning to conquer the market. From now on, it wants not only to implement technological solutions from young entities from the tech industry but also to become the bank of the first choice for companies changing the world, at various stages of development. It offers them a portfolio of products, so far only available to corporate customers, facilitating liquidity management, offer development, and expansion.
A novelty on the market is financing for scale-ups with a loan for PLN 500 thousand to PLN 2 million. Additionally, there is a full range of financial instruments waiting for companies, such as foreign exchange risk management, automatic payment identification or escrow accounts, digital customer service channels, and substantive support from experts from the Open Innovation Office.
“It is a response to the challenges that most often hamper the development of scale-ups, such as liquidity gaps, lack of funds for the implementation of new contracts, or difficulties in quickly scaling the business. Each company has its own unique needs, therefore the offer is tailored to the individual needs of each entity” – says Magdalena Matuszewska, Director of Product Offer Development at the Open Innovation Office of BNP Paribas Bank.
Who can count on cooperation with Bank BNP Paribas?
Innovative capital companies with an investor have been operating on the market for a minimum of a year and with their sales history have proved that their products or services are in demand. It is also very important that the company is registered in Poland. The entire list of criteria can be found below: https://www.bnpparibas.pl/innowacje/banujemy.
“Importantly, as part of the international BNP Paribas Group, present in 68 countries around the world, we want to work on the development of the best Polish technology companies, using this huge potential, in a way that no bank in Poland has done so far. And most importantly, we invite to cooperation not only those companies that are at the beginning of their paths and are growing dynamically but also larger, stabilized entities” – adds Magdalena Matuszewska.
The Bank is open to cooperation with representatives of various industries and sectors of the economy, provided that this does not contradict the accepted principles of corporate social responsibility. Bank BNP Paribas monitors the level of environmental, social, and governance (ESG) risks of all its customers. Additionally, as part of the BNP Paribas Group, it pays special attention to financing sectors considered sensitive in terms of ESG risk (e.g. coal, mining, or fuel sectors, in terms of unconventional oil and gas resources).
Risk under control
When preparing an offer for young companies, often operating in new industries, BNP Paribas Bank developed lending risk assessment criteria tailored to this specificity.
Young innovative companies are often perceived by banks as risky customers. Such generalizations, unfortunately, work to the detriment of both scale-ups and the banks themselves.
The Office of Open Innovations, the SME and Corporate Banking Area, and the BNP Paribas Bank’s Risk Area are jointly responsible for cooperation with young, innovative companies.
Source: Bank`s press release from February 15, 2022