KissKissBankBank raises 5.3 million euros, mainly from Orange

by bold-lichterman

Orange confirms its ambitions in the banking and financial sector. The operator has just invested, via its Orange Digital Ventures fund, in KissKissBankBank Technologies as the main investor of a funding round of 5.3 million euros. Other actors also participated in this fundraising. The company brings together the crowdfunding sites KissKissBankBank (donations with counterparts), hellomerci (loans between individuals) and Lendopolis (loans for companies).

“We are seriously going to strengthen the Lendopolis and Hellomerci teams in France to continue to be competitive in an extremely dynamic crowdlending segment. We are also planning to launch a fourth platform in 2017 which will offer Internet users the opportunity to become shareholders of young French start-ups, ”said Vincent Ricordeau, co-founder and CEO of KissKissBankBank Technologies.

Diversify Orange’s revenues

Since its launch in 2009, KissKissBankBank Technologies has claimed 50 million euros collected on its various platforms, including 21 million in 2015. “This equity investment strengthens Orange Digital Ventures on one of its priority investment themes, FinTech, which could in the long term, allow us synergies with our banking services, one of the Group’s diversification areas, ”says Pierre Louette, Deputy CEO of Orange and Chairman of Orange Digital Ventures.

Already in January, Orange announced that it had started discussions with Groupama with a view to acquiring 65% of its subsidiary Groupama Banque. The first French operator explained that he wanted to increase the turnover of this bank to 400 million euros, against 154 million euros in 2014.