Devenez Insider

Bpifrance: Atlendis obtains a €1 million loan

Tuesday, July 25, 2023

After Morpho, this is the second time that the public investment bank, which is very active in the Web3 world, has provided financial support for a project based on decentralised finance (DeFi).

The good news just keeps on coming for Atlendis. Just a few days after obtaining its registration as a digital asset service provider (PSAN) with the Autorité des marchés financiers (AMF), the French project has received the go-ahead from Bpifrance for a €1 million loan.

After Morpho, this is the second time that the public investment bank, which is very active in the Web3 universe, has financially supported a project stemming from decentralised finance (DeFi). Morpho received a grant from Bpifrance at the time of its launch.

"Atlendis has a very good team with top-level engineers, quantitative analysts and lawyers", explains Ivan de Lastours, blockchain lead at BPIfrance. "The project is developing a decentralised finance protocol to enable companies to borrow money via blockchain. Thanks to blockchain, this kind of platform is potentially more flexible, more transparent and faster than traditional institutional lenders such as banks. One of the special features of Atlendis is that the platform allows you to make a loan without depositing a deposit (we'll come back to this in the Premium edition).

In the meantime, Atlendis (14 employees) is primarily targeting businesses that are unable to raise finance through traditional channels. "Some companies, particularly in the fintech world, have risk profiles that prevent them from borrowing money. We are an alternative for them," explains Alexis Masseron, CEO and co-founder of Atlendis.

Like other DeFi players, Atlendis does not just target borrowers. The start-up is also targeting investors, who can come and lend their money to businesses through the protocol. "We already have more than 5,000 investors on the platform. Since 2022, there have been around thirty loans totalling $7 million", boasts Alexis Masseron, who hopes to accelerate the number of transactions in the coming months.

To stack the odds in its favour, and attract more traditional players, Atlendis, which has raised just over €5 million since its launch in 2021, has created Atlendis Flow. This company, which received the PSAN a few days ago, allows people to take advantage of Atlendis' services without directly touching crypto.

"Thanks to Atlendis Flow, we will be able to support traditional companies in this universe. They will receive euros directly," stresses Alexis Masseron. According to him, there are currently more than $100 million in financing requests on the platform.

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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