Sienna IM supports AddGuests’ growth by providing €10 million in impact financing
Sienna Investment Managers (Sienna IM) has granted €10 million in impact financing to AddGuests, the European leader in online outdoor accommodation bookings, part of the French Tech Next40 2024 and operating under the Campings.com and Bungalow Specials brands. This lending will enable AddGuests to support its organic growth and finance the acquisition of the Dutch platform Bungalow Booker. At the same time, AddGuests is strengthening its liquidity by setting up a €5 million revolving credit facility with French banks.
This is the first unitranche transaction for the Fonds Impact Social[1]. Launched in June 2022 under the impetus of Malakoff Humanis, this innovative fund, classified as Article 9 under the SFDR regulation, was the first private debt fund with social impact. Today, endowed with €112 million, it continues to expand its reach among European SMEs and mid-cap companies, backing financing with collateral and supporting the companies it finances on a path to social improvement. In the case of AddGuests, this 7-year senior debt financing includes impact covenants encouraging it to increase the proportion of people with disabilities in its workforce and to improve employee training.
Laurence Choisy-Lemesle, Director of the Fonds Impact Social: “We are delighted to support AddGuests in this new stage of its development. The integration of measurable and verifiable impact criteria, directly linked to the interest rate, is a powerful incentive to improve its social impact. This financing fully illustrates the strategy of our debt funds, which aim to promote sustainable and responsible finance.”
To guarantee the social utility of its financing, the fund relies on a rigorous selection process, combining quantitative and qualitative assessment by the firm Grenel Stratégie & Management, led by Laurent Pietraszewski, former French Minister for Pensions and Occupational Health. The social audit model tailored for the Fonds Impact Social identifies and promotes corporate strategies that contribute to training, equality, inclusion and job retention. This methodology strengthens the Fund’s ability to measure the social impact of its financing in concrete terms, placing innovation at the heart of its responsible investment approach.
AddGuests was advised by Redbridge Debt & Treasury Advisory on these transactions.
[1] managed by Sienna AM France, an AMF-approved management company n°GP97118, an entity developing the private credit expertise within the Sienna IM group
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