Inspired by the American website Kickstarter, KissKissBankBank is a fundraising web platform that was launched in 2010. Its goal is to organize a meeting between project creators and individuals looking to support artistic or technical creation and innovation.
Users choose the project they would like to support. like a film, a video game project or festival, and finance the project with an amount that they feel comfortable with. Based on their contribution, sponsors receive a gift from the project leader, such as tickets to a show, a mention in the credits or a home projection, for example.
Since its creation, more than 700 projects have been uploaded onto the site and 300 have found financing.
This kind of platform provides direct access to financing for many small-scale local projects. A direct lin to the source of financing and the project that benefits is created.
A platform like KissKissBankBank gives project creators access to financing that they wouldn’t normally have access to if they were dealing with traditional financial institutions. This encourages a community’s economic, creative and social activity.
The new company received €1.4 million from XChange funds.
The organization makes 5% commission on the money collected and branding activities, as well as receives financing from venture capitalist firms.