BNP Paribas Personal Finance and Evollis strengthen their partnership

BNP Paribas Personal Finance announces its acquisition of a minority stake in Evollis, a French FinTech company, founded by Xavier Pinse. Evollis has developed and marketed a digital platform for subscribing to and managing long-term rental contracts for capital goods. The Evollis platform also manages the recovery of used products (trade-in, buy-back).

Since 2016, BNP Paribas Personal Finance and Evollis have been working together on developing rental solutions for the European market. Evollis currently operates in six countries (France, Italy, Spain, Portugal, Belgium and the Netherlands) with distribution partners.

This acquisition is very much in line with BNP Paribas Personal Finance’s strategic plan, which aims to strengthen its position in the circular economy and become a significant player in the long-term rental of everyday goods (such as smartphones, IT equipment, connected devices, gaming consoles, etc.), as well as electric mobility (bicycles, scooters, etc.).

It is also a concrete reflection of BNP Paribas Personal Finance’s raison d’être, to “Promote access to more responsible and sustainable consumption, to support our customers and partners”, by developing more sustainable and affordable equipment solutions.

There is a dual benefit for customers, as it gives them back purchasing power, while bringing them into a virtuous cycle of more sustainable consumption, and away from the energy-hungry path of “buy, consume, discard.”

This transaction allows Evollis to consolidate its growth capacity, and thus strengthen its leading position in France, accelerate its international development and become a European leader.

For Charlotte Dennery, Director and Chief Executive Officer of BNP Paribas Personal Finance: « This acquisition of a stake in Evollis, who has been a partner of BNP Paribas Personal Finance for the last 5 years, demonstrates the determination of the two players to accelerate their growth in France, and more widely across Europe, in the rental sector for private individuals. This move is in keeping with the raison d’être of our company, which is promoting access to more sustainable and responsible consumption. ».

For Xavier Pinse, President and Emmanuel Gillet, CEO of Evollis: « We’re delighted to be strengthening our strategic partnership with BNP Paribas Personal Finance for our next ambitious stage of growth and capturing new markets. This transaction confirms the relevance of the vision of Evollis, a key player in the transition from ownership to use, and the leader in France for the rental of capital goods to private individuals. It also demonstrates the value of the platform, which has been developed and improved over the past 10 years by the Evollis teams, along with the help of our partners and the support of our shareholders, who we would like to thank.»