EIB Group and VEHIS Partner to Boost SME Auto Financing and EV Growth in Poland

In a landmark transaction aimed at expanding access to financing for small and medium-sized enterprises (SMEs) and Mid-Caps in Poland, the European Investment Bank (EIB) Group—comprising the EIB and the European Investment Fund (EIF)—has announced a strategic collaboration with VEHIS, a rapidly growing Polish car financing platform. The partnership will provide significant capital support to strengthen SME lending, advance climate objectives, and promote gender inclusion in the Polish market.

Under the agreement, the EIB will invest PLN 637 million (approximately €150 million) in senior notes backed by auto leases originated by VEHIS. Simultaneously, the EIF will offer credit guarantees to a third-party institutional investor, facilitating additional investments in both senior and mezzanine note tranches. This structured financing is expected to catalyse the creation of a new lease portfolio of up to PLN 2.6 billion, focused on vehicles for SMEs and mid-sized businesses.

Financing That Drives Inclusion and Sustainability

A core objective of this initiative is to promote gender equality and environmental sustainability in business development. VEHIS has committed that:

• At least 30% of new car financing will support women-led enterprises, an often underrepresented demographic in commercial finance.

• At least 10% will directly back climate action, including the leasing of electric vehicles (EVs) and other low-emission alternatives.

“This transaction is a great example of how we can use capital markets tools to deliver real impact for small businesses,” said Marjut Falkstedt, Chief Executive of the EIF. “By working with VEHIS, we’re helping to channel funding where it’s needed most — to entrepreneurs driving innovation, inclusion and sustainability across Poland.”

Pioneering Securitisation in the Polish Market

This transaction marks the first securitisation in Poland of a lease portfolio built under warehouse financing. Structured as a cash securitisation, the deal involves transferring a granular pool of more than 9,000 performing auto leases into a securitisation special purpose entity (SPV), which then issues notes to investors. The EIB is purchasing Class A1 notes, while EIF guarantees enable further investment in Class A2 and Class B notes—creating a layered credit structure with varying risk levels.

VEHIS, as the originator, retains the most junior tranche, signaling strong alignment of interests and a continued commitment to the credit quality of its portfolio. The entire securitised portfolio is denominated in Polish zloty, and all assets are secured by light vehicles, with over 90% of lessees being SMEs.

“This is a unique moment of appreciation for us by leading European financial institutions,” said Jan Bujak, CFO of VEHIS. “Thanks to the cooperation, we will continue to actively support SME financing, including for women-led businesses and low-emission vehicles.”

Regional Development and Economic Impact

Beyond direct financial support, this partnership is designed to enhance regional economic inclusion. VEHIS will target underserved market segments, particularly in regions of Poland where per capita income falls below the EU average. These areas often lack access to affordable financing options, especially for vehicle leasing, which is essential for business logistics, service delivery, and workforce mobility.

“Supporting SMEs is at the heart of what we do at the EIB Group,” noted Teresa Czerwińska, Vice-President of the EIB. “This partnership with VEHIS will not only help businesses grow but also promote gender equality and accelerate the shift to cleaner transport. It’s a smart, targeted investment in Poland’s future.”

Technical Notes and Risk Structure

The securitisation structure includes standard credit enhancement features, such as:

• Subordination of junior tranches

• Excess spread as a buffer against defaults

• A cash reserve account

• A principal deficiency ledger to track shortfalls

All notes pay floating interest and are expected to offer risk-adjusted returns to investors. This format makes the operation particularly attractive to institutional players seeking impact-driven, secure investment opportunities in the real economy.

Future Prospects: Catalysing Green Mobility and Female Entrepreneurship

With this initiative, the EIB Group and VEHIS aim not only to expand access to finance but to influence structural change in Poland’s vehicle leasing and SME finance landscape. By prioritising green transport solutions and inclusive finance, the deal aligns with both the EU’s Green Deal goals and gender equity commitments.

VEHIS is also expected to benefit from enhanced investor confidence and a broadened customer base, positioning it as a market leader in socially responsible and environmentally sound vehicle leasing.

This milestone transaction is more than a financial agreement—it is a strategic move toward a more inclusive, resilient, and climate-aligned economy in Poland.