Kima launches new start-up initiative

The firm will offer a fixed amount of $150,000 to start-ups in exchange for a 15% equity stake.

For its Kima15 initiative, Kima is aiming to make a decision regarding funding within five days of receiving a start-up's application. The firm is also planning to have transferred the capital to the start-up's bank account within 15 days of receiving application.

The premise behind the fixed, quick funding offer is so that entrepreneurs are able to concentrate on building their businesses, rather than focusing their efforts on fundraising.

The initiative is available for technology start-ups, namely those operating in the internet industry, such as mobile, gaming, hardware, software and telecoms companies.

Kima has partnered with AngelList to manage the application process, meaning start-ups have to apply for the Kima15 initiative through the AngelList website.

In conjunction with the Kima15 announcement, to strengthen the team the firm has appointed Michel Sassano, formerly with Orange and Wooga, and Vincent Jacobs of Seedcamp and Smarkets. Sassano will be based in Kima's Paris office, while Jacobs will set up in London to begin establishing Kima's presence in the city.

In May, Kima took part in a $6m series-B funding round for TransferWise, a London-based currency exchange site, alongside lead investor Valar Ventures, Index Ventures and business angel firm SV Angel.

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