Isabelle Loc, CEO at BNP Paribas Leasing Solutions, explained: “As the subscription economy expert, Zuora is the ideal partner to combine an offer with our equipment finance expertise.

“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.”

With Zuora, BNP Paribas Leasing Solutions will enable its partners to offer new usage-based solutions to their own clients, eliminating the need for companies to maintain the equipment, with customized invoicing based on how and when machinery is used. These services also aim to provide a more sustainable approach by prolonging equipment’s lifetime, reducing upgrade costs and enabling the purchase of second-hand and refurbished equipment.

BNP Paribas Leasing Solutions’ usage-based offerings will first launch in France and Germany, with a goal to expand across Europe.

“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,” said Robbie Traube, president and chief revenue officer at Zuora. “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.”