Mauritian P2P Fintech Startup, Fundkiss, Partners CIM Financial Services to Land New Funding

Mauritian P2P Fintech lending platform, Fundkiss Technologies Limited has announced it has partnered with CIM Financial Services Ltd (Cim Finance), a major Mauritian consumer and SME finance provider, by selling a minority position to the firm.

This announcement is coming 2 years after Fundkiss became the first Fintech to operate under EDB’s Regulatory Sandbox License (RSL) in 2019 and earn a Peer-to-Peer Lending license from the FSC in April 2021.

Fundkiss, founded in 2016 is Mauritius’ first peer-to-peer lending platform. The startup aims at enabling SMEs to borrow money directly from individuals and institutions. Fundkiss’ crowd-lending platform empowers people to make an impact and contributes to the emergence of the Fintech industry.

As part of the platform’s growth objectives, Cim Finance’s investment will help Fundkiss finance its technology development, better structure its marketing approach, and strengthen its team. Cim Finance will have a representative on the Board of Directors of Fundkiss.

Paul Perrier, CEO of Fundkiss speaking on the development said that the partnership will help improve the startup’s lending efficiency.

“This strategic partnership will not only allow us to accelerate the pursuit of our mission to simplify and democratize financing for SMEs but also continue to offer a great lending experience for our community of lenders. The partnership will also allow to us strengthen our operational capabilities,” said Paul.

“We are delighted to become a strategic partner of Fundkiss. Both our companies strongly believe that a prospering SME sector lies at the heart of sustainable and inclusive economic growth. We share a common purpose and a strong desire to improve borrowers’ convenience through the use of technology and innovation,” said Mark van Beuningen, the Group CEO of Cim Finance.

Mark van Beuningen also added that the partnership will improve the capacity to reach more SMEs.

“This move will allow Cim Finance to reach a greater number of SMEs, enhance our knowledge of their needs and continue to develop further innovative forward-thinking and customized offerings,” Mark said.

As part of the deal, Cim Finance will also finance SME projects on the Fundkiss platform, fundkiss.mu, bringing another institutional investor to the platform’s growing community of lenders. SMEs will be able to obtain funds more swiftly and simply.