Zuora Partners with BNP Paribas Leasing Solutions to Monetize Equipment Services in the Subscription Economy

July 13, 2022 at 03:01 AM EDT

International equipment finance leader moves toward a circular economy for Europe’s leading manufacturers with sustainable, usage-based equipment services

Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, and BNP Paribas Leasing Solutions, international equipment finance player, today announced a partnership to offer new usage-based solutions for professional equipment. Part of one of the world’s 10 largest banks, BNP Paribas Leasing Solutions provides financing services for professional equipment across 20 countries around the world, and together with Zuora®, will enable its industrial partners to nurture and monetize ongoing customer relationships with usage-based offerings.

“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.”

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.

“As the Subscription Economy expert, Zuora is the ideal partner to combine an offer with our equipment finance expertise,” said Isabelle Loc, CEO at BNP Paribas Leasing Solutions. “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.”

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

To learn more about how Zuora powers the full quote to cash and revenue recognition process, please visit zuora.com.

About Zuora, Inc.

Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models, and acts as an intelligent subscription management hub that automates and orchestrates the entire quote to cash and revenue recognition process. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

© 2022 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.

About BNP Paribas Leasing Solutions

As the European leader in asset finance, BNP Paribas Leasing Solutions supports the growth of its clients and industrial partners by offering rental and finance solutions with services for their professional equipment. At the heart of the usage economy, we provide businesses with the flexibility they need to remain competitive and grow in a sustainable way. Our 3,700 experts support our clients' and partners' growth by offering them an increasingly digitalised experience. In 2021, we financed 343,000 projects for a total volume of 14.7 billion euros in 20 countries, in Europe and also Asia, the United States and Canada. Learn more: leasingsolutions.bnpparibas.com.

SOURCE: ZUORA FINANCIAL