Societe Generale and Bpifrance have signed a partnership agreement to support the overseas growth of French businesses.

The partnership will allow the two firms to jointly provide advice, co-financing, and guarantees to French SMEs and midcaps looking to expand on the foreign markets.

“French businesses need access to specific financial resources and customised support to benefit from the growth potential offered by foreign markets,” said a joint statement.

“The Bpifrance and Societe Generale partnership responds to this need and brings together two teams with a shared commitment to achieving this end.”

As such, the two firms are looking to facilitate French exporters' internationalisation by supporting them with consulting, co-financing and guarantee services through the Bpifrance product range, as well as the Coface and Ubifrance product ranges distributed under the Bpifrance export label.

The two French financial services firms have partnered before when helping French businesses with domestic issues - this latest agreement is the first time Societe Generale and Bpifrance have ventured into joint financing of French businesses abroad.