KissKissBankBank & Co
Crowdfunding comes to new niche markets. KissKissBankBank & Co is the European leader in crowdfunding, with three solutions on offer: KissKissBankBank (rewards-based platform), hellomerci (solidarity loans) and Lendopolis (interest-bearing loans).
Our aim is to persuade people to take back control of their money by investing in projects they believe in! To pair together the desire to invest and the need for funding, what better way than an online platform?
Vincent Ricordeau, Co-founder of KissKissBankBank & Co
The innovation behind KissKissBankBank
In 2009, the founders of KissKissBankBank had the idea of using a crowdfunding platform to bring together people as part of creative, artistic, and innovative projects with others who were looking to support them through financing. This community-based approach is genuinely innovative and is revolutionizing project funding.
KissKissBankBank’s challenge: to diversify and export its model
By 2013, just three years after its launch, KissKissBankBank had become a great success. The figures are flattering: 215,000 web users chose KissKissBankBank to finance or propose a project close to their heart, as they looked to “free creativity”. In France, crowdfunding is taking off and grew by 160% in the space of a year.
The challenge is in maintaining its momentum and developing its activities. In 2013, KissKissBankBank created hellomerci (“Borrow from people who wish you well”), a solidarity lending platform where individuals pledge money to support professional and personal projects. Then, in 2014, came the launch of Lendopolis, a crowdfunding platform for French VSBs and SMEs.
Our investment in KissKissBankBank serves to strengthen Orange Digital Ventures in one of its priority investment themes: FinTech. In the long run, this could allow us to form synergies with our banking services – one of the Group’s focus areas for diversification.
Pierre Louette, Deputy Chief Executive Officer of Orange France and head of investment strategy management for start-ups
Via its investment fund, Orange Digital Ventures, Orange raised €5.3 million in capital alongside Xange and private investors. The capital injection is designed to open up new avenues for KissKissBankBank and enable it to grow its workforce and ramp up its R&D policy.
Already established in Belgium, Italy, Canada and Germany, KissKissBankBank & Co is also drawing on Orange’s international expertise to accelerate its expansion.
Outlook: crowdfunding as a driver of growth
Already the European no.1 in crowdfunding, KissKissBankBank & Co intends to continue its sustained pace of growth. In 2017, it plans to launch a fourth platform, offering individuals stakes in start-ups.
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