Kiss Kiss Bank Bank and its crowdfunding platform
Kiss Kiss Bank Bank is a key player in crowdfunding in France, allowing everyone to raise money for the financing of a project. Like Leetchi which we talked about in a recent article, Kiss Kiss Bank Bank makes projects bloom by allowing their creators to be supported. Unlike Leetchi, Kiss Kiss Bank Bank focuses 100% on financing creative, entrepreneurial or associative projects.
Kiss Kiss Bank Bank : How does it work?
The operation of this crowdfunding fintech is quite simple, the goal being to be accessible to all and not only to web aficionados.
When you arrive on the Kiss Kiss Bank website, one thing strikes you at first: the interface is uncluttered, and so is the main menu. No endless drop-down menus or futile elements, the only clickable buttons on the main menu concern the core business of the Fintech.
Thus, the Internet user will be able to easily find his way from the main page of the site. A “discover projects” button to participate in the financing of a project, an inevitable button to connect to your KKBB account and finally the “launch your project” button. It is therefore impossible to get lost: access to the creation or support of a project is extremely simple.
On the project launcher side, the site will ask you to describe your project in a few minutes and then create it. This description will be analyzed by KKBB coaches, who are there to guide the launcher in the creation of his fundraising page. After filling in the questionnaire in two minutes, especially concerning the duration of the project and the amount targeted, it will be online on the site and accessible to all!
KKBB raises funds for these projects in three different ways:
- A financial donation in exchange for rewards: this is the classic way of crowdfunding, where project creators set up funding levels to be reached. Once these levels are reached, the people who finance the project can receive all kinds of rewards (signed T-shirts, CDs, stickers…).
- Pre-ordering: very useful for managing event ticketing or for launching new product or service lines. Supporters of the project will be able to pre-order in advance and thus finance the next products or services of the creators.
- The free donation, which is simply a kitty where people wishing to support the project can give without any compensation.
On the “support” side of the projects, the Internet user will simply have to search and then click on the project that interests him. Once on the page of the latter, he will have access to the different support options mentioned above, depending on those activated by the creators of course.
Once selected, a payment page is displayed and offers the “supporter” different options. Note that you must have an account on the Fintech website to support as well as to create a project. After providing some information and filling out a short form, the payment will be made and secured via Mangopay.
Finally, KKBB is very clear about the site’s policy: “contributing is not buying“. In other words, the Fintech does not guarantee the success of projects and reminds us of the inherent aspect of their values of support without compensation.
Some statistics and fundraising
In its history, KKBB would have only made two large fundraising rounds listed. According to La Tribune, the fintech would have raised nearly €21 million during 2015.
At the beginning of 2016, another fundraising of €5.3 million will be carried out and will see the Orange Group enter the capital of KKBB. These raises will support the fintech in the development of its four crowdfunding platforms that are Kiss Kiss Bank Bank, Lendopolis, Goodeed and more recently microDON. KKBB will join La Poste Group in July 2017.
In a few figures, at the end of March 2022, KKBB is :
- 25,838 successful projects, with a 72% success rate.
- The largest project category is solidarity, with 4,550 successful projects for almost 23.7 million funds raised.
- An idea of size: one of the largest collections had collected an amount of 1 835 572 € on the 35 000 € requested or 5244% more! This amount was even in 2020 the European crowdfunding record, just that. The collection concerned the support of a project of a web personality, Bob Lennon, for the financing of an immersive adventure book.
- KKBB has over 2.5 million French donors, giving an average of 65 euros. This makes them the “most generous donors in France”.
Crowdfunding is proving that it works and that it is an important option for anyone wishing to set up a project, whatever it may be. KKBB wants to gradually expand internationally to reach more creators and donors around the world. To quote the Fintech’s slogan: “the idea is to get started”!