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New Fasanara €250 million fintech fund anchored by the EIF to support SMEs across the EU

The European Investment Fund (EIF) thanks to the support of the Private Credit Tailored for SMEs Programme of the European Fund for Strategic Investments (EFSI), participates in the fund with €20 million to facilitate fundraising among private investors. Launched in December 2018, the programme combines resources from the EIF and from EFSI (the main pillar of the Investment Plan for Europe.) The purpose of the Private Credit Tailored for SMEs programme has been to foster private institutional investment in support of more market-based and tailor-made funding solutions for European SMEs and small mid-caps. The investment by the EIF in the Fund addresses the mandate target to support European marketplace lenders and crowd lending platforms, as an innovative financing channel to SMEs. 

  • Asset manager & technology platform Fasanara Capital announces the first closing of new €250 million fintech fund
  • The European Investment Fund (EIF) has made a cornerstone investment in Fasanara European Alternative Crowdlending Fund, under the Private Credit Tailored for SMEs Programme of the European Fund for Strategic Investments (EFSI)
  • The fund is targeting to invest in working capital financings to businesses representing more than 100,000 jobs across Europe

The fund target size will be up to €250 million, aiming to invest in working capital financing for European businesses, representing more than 100,000 jobs across Europe.

The first closing of the new programme was signed by the EIF, ITAS Assicurazioni, BNI Europe, BPG and Fasanara Capital to support European SMEs through financing of corporate receivables originated, assessed and priced through Financial Technology and Artificial Intelligence.

The transaction reflects the European Union's commitment to launch concrete initiatives aimed at accelerating lending transactions capable of boosting jobs and growth in the EU, at a time of great need amid the pandemic.

Executive Vice-President for An Economy that Works for People, Valdis Dombrovskis, said: “It is important that businesses have access to tailor-made funding solutions that help them recover from the pandemic and kick-start their activities. I am glad that with the EFSI Private Credit Tailored for SMEs programme, we can do exactly that: support alternative sources of financing that help to boost jobs and growth in Europe.”

EIF Chief Executive Alain Godard recently said:

"Debt funds offer small businesses an alternative to classic bank loans, including bespoke financing, speedy deployment and flexible approach. Our cooperation with Fasanara Capital - supported by the European Commission – demonstrates Europe's strong commitment to improving access to finance for small and medium sized businesses in Europe. This will also help to strengthen the private debt market in Europe

"We help bridge the gap between credit-starved SMEs and European institutional investors willing to support them, through the use of advanced technology, in ways that are sustainable, equitable, transparent and empowered with data. We are active in 25 countries globally, but with a key footprint in the EU." explains Francesco Filia, co-founder of Fasanara Capital.”

Fasanara Capital was launched in 2011 as an inventive, tech-powered investment house, looking at disruptive new technologies to advance the legacy financial infrastructure.

António Simões Pinheiro, Director at BPG added:

‘'SME´s are the back bone of many economies around the world. They are the driving force for value-added output, growth, employment and, ultimately, the key role player in a more inclusive and equality balanced global economy. Yet, although SME's have the scale, they are perceived as a riskier and costly segment, thus finding themselves stranded and underserved by traditional banking lending.''

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