BNP Paribas forms a partnership to help SMEs find public aid
It’s not just start-up acquisitions in life. While BNP Paribas has targeted fintech in recent years to expand its range of services, the banking giant is also enriching its “digital showcase” through partnerships: a week after signing an agreement with Libeo, a specialist of electronic invoicing, here he is joining forces with KPMG and WeGrant, a Spanish start-up specializing in public financing advice that wanted to expand to the French market.
76 billion euros in public aid
BNP Paribas, with its two partners, announced on Monday the launch of a platform called “Espace Subventions Entreprises”, which aims to help companies access public aid, in particular, to carry out projects related to digitalization and the environment.
While large companies are well versed in seeking subsidies, “SMEs are less inclined to do so, not necessarily due to lack of knowledge, but also because of the time required to compile a file”, analyzes Marguerite Bérard, director of the Commercial bank in France (BCEF) of BNP Paribas.
As a result, public aid “often remains unknown and little requested”, note the three partners in a press release. According to them, these various public measures (European, national or regional) would represent the equivalent of 76 billion euros.
The platform aims to know in five minutes what aid the company would be eligible for, and what is the probability of obtaining it. Once the simulation has been carried out, depending on the case, we grant or KPMG will be able to manage the request for public aid, with BNP Paribas intervening if necessary for additional financing. The platform, which will be updated daily, will count at the end of the first quarter 350 selected European and French aids.
A first experience in Spain
“The service is aimed at our customers, but also at prospects,” emphasizes Clotilde Quilichini, director of business customers at BCEF. As an indication, WeGrant carried out the same type of initiative in Spain in 2021, but this time in partnership with the local giant Santander: in a few months, the platform made it possible to attract 5,000 companies and generate 400 million euros. financing, assures BNP Paribas.
