CDP Cassa Depositi e Prestiti has invested €25 million in the October SME V fund.
October Italy CEO Sergio Zocchi thanked Cassa Depositi e Prestiti, noting the bank joins other European investors, such as European Investment Fund (EIF), Bpifrance, and Invest-NL, who will lend to SMEs alongside 40,000 private lenders.
Proud that Italy’s Cassa Depositi e Prestiti is extending its support for SMEs via @October_EU’s platform with €25m of further investment https://t.co/MDvFolZyM3
— Patrick de Nonnevill (@p2nvl) May 29, 2023
The bank said they were supporting the pan-European debt fund to support smaller firm growth and to promote alternative tools to access capital as well as to assist Italian SMEs.
The bank added that October has disbursed over €1 billion supporting 3,800 European SMEs, of which 1,100 are Italian.
October is a top online lending platform serving the European market while allowing smaller investors to participate in the issuance of loans.
CDP is a publicly controlled joint-stock company that has the Italian Ministry for the Economy and Finance as its majority shareholder.
