Agriculture-focused lender BRI Agro has partnered with P2P lending firm Investree to support creative industry entrepreneurs, while global wealth management service firm Zedra Group is acquiring BNP Paribas unit in Singapore.
BRI Agro partners P2P lender Investree
Agriculture specialist lender Bank Rakyat Indonesia Agroniaga (BRI Agro) has forged a partnership with P2P lending firm Investree to support entrepreneurs in the creative industry seeking a loan for their businesses.
BRI offers invoice financing that does not require the company to provide collateral for the loan as they used their invoice as the source of repayment.
Entrepreneurs in the creative industry typically have been denied access to secure banking loans as they do not have physical assets as collateral.
Investree will undertake a credit-scoring analysis for loan applications before securing final approval by Bank BRI to disburse the loan.
So far, BRI has disbursed over 200 billion rupiah ($14.3 million) loans to Investree. BRI has earmarked 2 trillion rupiah ($143 million) for digital lending through Investree..
ZEDRA Group acquires BNP Paribas unit in Singapore
Global wealth management firm ZEDRA group announced on Wednesday that it will acquire BNP Paribas Singapore Trust Corporation Limited for an undisclosed value.
The acquisition, which is subject to regulatory approval, follows the deals across the Isle of Man, Switzerland and Nordic markets that were announced last year.
ZEDRA Group said that BNP Paribas Wealth Management’s trust business in Singapore is an ideal fit for the group as it serves the growing Asian ultra-high net worth and high net worth markets.
“This latest deal will bring additional scale and expertise to our already fast-growing Singapore office. The Asian markets are very important for ZEDRA and globally continue to represent one of the most productive sources of new high-quality clients,” Zedra CEO Ivo Hemelraad said.
The deal will bring ZEDRA’s combined staff numbers in Singapore to 30. Currently, ZEDRA has over 550 industry experts across 13 countries, in Asia, Oceania, the Americas and Europe.
ZEDRA also announced that private equity firm Corsair Capital is closing the majority investment in the group.