Marriage wasn’t really his thing. If you had asked me about a buyout six years ago, I would have answered: never! But times are changing,” Vincent Ricordeau, co-founder of KissKissBankBank, told us last September. The donation crowdfunding platform finally said yes to La Banque Postale a year ago, on June 28, 2017 (the amount of the ceremony was not revealed), after seven years of collaboration. The two actors have notably set up together an operation called Coup de Coeur : KissKissBankBank proposes several projects, once one of them reaches half of the targeted amount, La Banque Postale covers the rest.
This proximity facilitated the integration of fintech into La Banque Postale. If we had been bought out by a company we didn’t know, I don’t think it would have gone as well,” says Vincent Ricordeau. Nor did the leader expect such a good reception. Since we have an anti-finance image, we thought that some people would not welcome us with open arms. On our side, we thought we were up against Conservatives who thought we were troublemakers but not at all. There’s goodwill on every floor, whether it’s the networks, the general public, the bank for professionals,” he promises.
We will be present, via a video, on the screens of all post offices from 4 July this year
Once the summer holidays were over, it was time to open the first major project: the rapid integration of the KissKissBankBank and Lendopolis offers (interest-bearing loans to VSE/SMEs) into the La Banque Postale network. This is a priority because we need to make the KissKissBankBank brand mainstream,” says Vincent Ricordeau. Objective achieved with BPE, La Banque Postale’s private bank, which for the past two months has been enabling its clients to finance renewable energy projects in Lendopolis. The last four projects were financed by the GHP’s clients, for a total of EUR 1 million. More money is raised and campaigns are completed more quickly. The renewable energy sector will be a flagship activity for us in the second half of 2018,” says Vincent Ricordeau. In January 2019, the Lendopolis real estate programs will be added to the products offered to the BPE’s clients.
At the same time, the KissKiss brand is gradually being integrated into La Banque Postale’s media supports. We are present on the website, more precisely on the portal and some pages for the general public, since September 2017. And we will be present, via a video, on the screens of all post offices from 4 July next, announces the manager. Lectures and KissKiss Dating (training on crowdfunding) will be organised in post offices. All KissKissBankBank appeals for donations will eventually be available in 2,000 post offices (out of 17,000 in France) in major cities, including 200 this year. The first KissKiss corner will be inaugurated on 4 July 2018 in Lyon. A team from the crowdfunding platform will train La Banque Postale representatives on all these offers. La Banque Postale’s sales staff must make our KissKiss and Lendopolis products their own. The training plan begins in September 2018. Starting in 2019, La Banque Postale’s sales representatives will be talking to their customers about KissKissBankBank and Lendopolis,” says Vincent Ricordeau.
KissKissBankBank also participates in the mobile banking project Ma French Bank, which should be launched at the end of the year for a first circle of customers. KissKiss will be integrated into this future bank to give life to a project by opening a call for donations or simply to participate in the financing of a project that is close to our hearts, a press release stated. Vincent Ricordeau is on the board of Ma French Bank. I work mainly on graphic identity, semantics and UX. On the other hand, I do not intervene much on the technological part. It’s managed on the side of La Banque Postale,” explains the manager. The two other co-founders of KissKiss, Ombline Le Lasseur and Adrien Aumont, are focused on the incubator project of La Banque Postale, the details of which have not yet been revealed. We are in the process of creating the programs. Once it opens, normally in January 2019, we will accompany the start-ups,” reveals Vincent Ricordeau. The CFO of KissKiss, Romain Payet, is working on regulatory and compliance issues with La Banque Postale. Apart from these four people, the fifty or so employees kept the same functions. And are still on the premises of the Xth district of Paris. They also receive visits from employees of La Banque Postale, who use these premises to organise internal or external meetings.
We are in the process of creating the programs for the La Banque Postale incubator…
A small board has also been set up to define the strategic points of KissKissBankBank every two months. Rémy Weber, Chairman of the Management Board of La Banque Postale, Marc Batave, Managing Director of Commercial Banking and Insurance, Alice Holzman, CEO of Ma French Bank, Serge Bayard, Chairman of the Management Board of La Banque Postale crédit entreprises and the co-founders of KissKissBankBank.
On the business side, the platform’s results continue to be satisfactory, according to management, despite a 10.7% drop in new money collected over the year January-May 2018 (5.8 million euros compared to 6.5 million euros). It’s the change in our project selection process that has caused us to drop a bit in volume,” explains Vincent Ricordeau. Growth resumed in May. The BtoB activity, which is similar to that of a communications agency, has, on the other hand, progressed well in recent months to reach 20% of turnover. In particular thanks to the acquisition of Gooded last March, a platform specialising in donations financed by online advertising. With Goodeed, we’re going to go further than what we’re currently doing because it’s going to become a platform dedicated to brands. Actually, we’re in the process of setting up a control room. And this management will allow us to go international,” Vincent Ricordeau told us at the time of the buyout. In 2017, fintech recorded a turnover of EUR 3 million and is targeting EUR 4 million in 2018. To achieve this, it is relying in particular on Lendopolis, with the renewable energy sector, and Goodeed.