Kalray Secures Up to €15 Milion Loan from BNP Paribas

Kalray, Inc. announces the establishment of a scalable debt solution (“Dynamic Revolving Credit Facility”) with BNP Paribas, its historical banking partner since 2008. Amounting to up to €15 million over a period of 3 years, this financing will support the continuous growth of its activities, particularly its expanding prospects in AI and Generative AI (GenAI), thanks to the merger project with Pliops.

This loan, mentioned in the press release dated June 3, 2024, confirms company’s ability to use non-dilutive financing to support its development and growth.

With a maximum amount of €15 million over 3 years, this loan will be regularly adjusted based on the operational and financial performance of the company, and benefits from insights generated by a proprietary data analytics platform.

BNP Paribas Growth Solutions offers both non-dilutive and venture debt funding to innovative companies across Europe.

“I would like to thank BNP Paribas, our historical banking partner, for their renewed support in continuing to support high-growth companies like Kalray,” said Eric Baissus, chairman of the executive board, Kalray.

Christopher Kramme, head of growth solutions at BNP Paribas, who structured the debt investment, said: “We are excited about Kalray’s advanced technology and growing commercial traction, and are pleased to be able to accompany that growth in the coming years.”

“This financing tool, quite new in Europe, is a complementary means to accompany fast-growing innovative companies in their journey, beyond equity,” said Pierre Laforge, senior banker specialised in innovative companies. “Thanks to a high level of flexibility & scalability, this financing will be a growth accelerator over time & highlights the key role of BNP Paribas for innovation across Europe and beyond.“

Founded in 2008 as a spin-off from the French CEA research lab, Kalray has corporate and financial backing from notable investors such as Alliance Venture (Renault-Nissan-Mitsubishi), NXP Semiconductors, and Bpifrance.