Valsabbina Bank Invests in BorsadelCredito, Fintech Platform Leader in P2P Lending to SMEs

The interaction between fintech companies and banks is becoming more and more intense and concrete. Valsabbina Bank has signed an agreement aimed at acquiring a stake of approximately 8.3% in Business Innovation Lab, the company to which the fintech platform BorsadelCredito.it refers.

The transaction is subject to the occurrence of certain conditions precedent: in a first phase, shares will be purchased on the secondary market. In addition, Valsabbina will be assigned convertible warrants, for a maximum total participation of 9.9%, whose conversion will, however, be subject to the achievement of commercial objectives.

BorsadelCredito.it launched in 2015 is the first Italian peer-to-peer lending operator for SMEs, and is managed by a corporate group, whose holding company is Business Innovation Lab Spa.

Valsabbina Bank is a Joint-Stock Cooperative Company, founded in 1898 and is the main Popular Bank of Brescia that, for over one hundred and twenty years, has supported the growth and economic development of the territory. It operates through a network of 70 branches and is particularly active in innovative finance operations.

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The collaboration between Valsabbina and Borsadelcredito.it has already been active for some years

As a matter of fact, two important securitization operations of loans have been structured – disbursed through the platform and guaranteed by the Central Guarantee Fund – for a total of Euro 300 mln, intended to support Italian companies in the context of the pandemic crisis.

“BorsadelCredito.it has been a partner of ours for a number of years and, like our Bank, it too is aimed at Italian SMEs. In recent months we have explored the possibility of further strengthening the relationship and we have now reached an important strategic agreement – underlines Hermes Bianchetti, Head of Business Division of Banca Valsabbina. – Our Bank must continue to support companies, particularly in the current complicated context, but at the same time we want to continue to improve the efficiency and modernization of the business. The agreement reached therefore allows us to further refine the Bank’s outlined “Fintech Strategy”, diversifying investments, taking advantage of advances in technological innovation, and following the evolution of the market.”

“With this agreement, BorsadelCredito.it’s collaboration with Banca Valsabbina continues and consolidates, a collaboration that has brought numerous resources to businesses in the past thanks to the fast and innovative channel of fintech – comments Ivan Pellegrini, CEO of BorsadelCredito.it. – We are pleased to have a partner like Banca Valsabbina at our side in this operation, as we believe that cooperation is the best way to bring real innovation to the world of finance and bring it closer to the needs of the real economy. For us, this operation is part of a path of evolution: we are no longer just lenders to the real economy, but technological enablers for traditional finance.”

Valsabbina Bank was assisted for the legal profiles of the operation by Studio ALMA in the person of partners Marco Zechini and Luca Benvenuto, as well as associate Sergio Visalli, and BorsadelCredito.it in the person of Roberto Nigro (partner).

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(Featured image by Josh Appel via Unsplash)

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