Zuora, Inc., based in California, has entered a partnership with international equipment finance French company, BNP Paribas Leasing Solutions to roll out professional equipment solutions across the globe, according to a press release.
“As the subscription economy expert, Zuora is the ideal partner to combine an offer with our equipment finance expertise,” Isabelle Loc, CEO at BNP Paribas Leasing Solutions, said in the release. “Their innovative and evolutive platform will allow us to provide flexible financial solutions, constantly adapting to the actual usage of the equipment. Our future financing offers will be driven by the equipment consumption and optimization through additional services such as maintenance and lifecycle management. This will help companies deliver on their core business while closely managing their budget and quality of service to their customers.”
Together, both parties will develop usage-based solutions for the products. The offerings will first launch in France and Germany, and later work its way across Europe.
“BNP Paribas Leasing Solutions provides financing services for professional equipment across 20 countries around the world, and together with Zuora, will enable its industrial partners to nurture and monetize ongoing customer relationships with usage-based offerings,” a press release states.
The collaboration will enable BNP’s partners to offer innovative usage-based solutions, facilitating maintenance demands and adjusting invoicing according to the way and time during which the machinery is used. The services are also intended to extend the durability of the equipment, reduce improvement costs and enable second-hand and refurbished equipment.
Ranked among the 10 top largest banks, BNP Paribas Leasing Solutions’ financing services has reached 20 countries.
“BNP Paribas Leasing Solutions, an established European leader in equipment finance, is now at the forefront of financial services transformation as they embrace the subscription economy with new monetization strategies,” president and chief revenue officer, Robbie Traube, said. “Now on Zuora, BNP Paribas Leasing Solutions will have the flexibility and agility to make critical equipment more accessible and tailored to companies’ individual needs, all while providing more sustainable options.”