Linklaters advises Alma on its first securitisation transaction

Linklaters has advised the French fintech Alma on the launch of its first securitisation vehicle (FCT). 

Founded in 2018 and commercially launched in 2019, Alma is a specialist of multi-instalment payments and provides over 4,000 retailers with a payment solution for their customers.

This transaction concerns the refinancing of payment solutions granted to the customers of retailers served by Alma in France. The fintech can count on the support of Eiffel Investment Group, which has been willing to invest in the “FCT Alma 2021” since its inception, to allow it to acquire receivables resulting from these payment solutions. This FCT allows Alma to diversify its financing sources and to help finance its current and future production. This launch is a first step for Alma, before the fund is opened to other investors, so as to support its growth, particularly since Alma recently obtained authorisations as a payment institution and a finance company from the ACPR.

The Linklaters team in Paris was composed of Patrice Doat (Partner), assisted by Aurélien Fournier (Managing associate) and Julien Bourgeois (Associate) from the Structured Finance team. 

Gide Loyrette Nouel advised Eiffel Investment Group. The Gide Loyrette Nouel team in Paris was composed of Xavier de Kergommeaux (Partner), assisted by Clément Vandevooghel (Counsel) and Agathe Llorens.