XAnge exits KissKissBankBank

Other investors in the company included Orange Digital Ventures, which led a €5.3m funding round for the group in 2016, and a number of business angels and private funders. All are set to exit KissKissBankBank, with La Banque Postale wholly acquiring the company. The sale process was launched earlier this year.

Having acquired XAnge in 2015, Siparex de facto became a KissKissBankBank backer too at the time, and as such will also exit the business.

Finally, French financial publication Les Echos, which had backed Lendopolis (one of KissKissBankBank's three subsidiaries dedicated to financing SMEs) with a media-for-equity investment, is also selling its shares.

The startup has been profitable since 2014, with a turnover currently amounting to €2.5m, compared to €1.7m the previous year.

Previous funding
KissKissBankBank raised an estimated $6.97m in total through four rounds. XAnge provided the first round, with €750,000 of seed funding in 2009.

In 2011, XAnge and two business angels invested €700,000 in the company. Funds were drawn from La Banque Postale Innovation 4 (La Banque Postale used to own XAnge until its merger with Siparex) and six FCPI vehicles. A further early-stage round was reportedly provided by XAnge and other unknown investors in 2012.

In 2016, Orange Digital Ventures led a €5.3m round for KissKissBankBank alongside XAnge and several entrepreneurs and business angels.

Company
Founded in 2009 by Ombline Le Lasseur, Vincent Ricordeau and Adrien Aumont , KissKissBankBank is an online crowdfunding service running three different platforms: its namesake specialises in financing cultural and artistic projects, while Hellomerci and Lendopolis focus on loans between individuals and SMEs, respectively. Headquartered in Paris, the company employs around 15 professionals in France and has representatives in Belgium, Italy, Canada and the US.

The Paris-based startup claims to have 1.3 million members on its platforms, and to have helped finance around 27,000 projects so far.

People
Orange Digital ventures – Pierre Louette (CEO).
KissKissBankBank Technologies – Vincent Ricordeau (co-founder, CEO); Ombline Le Lasseur, Adrien Aumount (co-founders).
La Banque Postale – Rémy Weber (chair of the board).

Advisers
Buyer – De Pardieu Brocas Maffei, Guillaume Touttée (legal).
Vendor – Rothschild & Cie, Sébastien Proto, Virginie Lazès, Nicolas Aftimos (corporate finance); Orrick, Saam Golshani (legal).

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• Trade sale