Fundkiss Reaches MUR 100 Million in Total Loan Production!
09 Dec 2021
A hundred million of anything is significant. A hundred million rupees disbursed as hassle-free loans to SMEs in Mauritius is extremely significant.
We launched Fundkiss with the mission to simplify and democratize SME financing. Today, we commemorate an incredible milestone that represents our impact on the SME community in Mauritius – MUR 100 Million in total loan production!
The Journey So Far.. 🏃
Our ability to stay agile in the face of uncertainty and adversity has allowed us to go from
- An idea which popped up while listening to a radio show to the participation to the first incubation program at Turbine
- a Regulatory Sandbox License (RSL) to a full-fledged Peer-to-Peer Lending License from the Financial Services Commission of Mauritius.
- a team of 3 to 12, and counting…
- a MVP to a new platform
- Creating a new sector, and a new way to borrow and lend money in Mauritius 🇲🇺
Here are 9 key stats that paint the picture.
- Mur100,158,500: Total loan production since the launch of our operations. This represent the Mur100m injected back in the real economy by our community of lenders! 85% of the financing have been made by individual lenders! 🧍♂️🧍♀️
- 192: Total number of projects financed across all sectors of activities and from sole traders to large SMEs. Size does not matter at Fundkiss!
- 2,939: Total number of lenders registered on our platform, including 571 who are active investors and regularly invest on the different projects.
- Mur521,659: The average loan size. On Fundkiss we finance projects from Mur50,000 to Mur5,000,000. The biggest project finance to date was Mur4,000,000.
- Mur29,809: The average lending ticket per project. An active lender will also on average invest on 2 projects per year.
- Mur54,957,618: The total repayment to lenders to date. This shows the capacity of Fundkiss to source quality projects and ensure that the loans are repaid on time.
- 22 months: This is the average loan period for projects. Even if we have done projects up to 60 months, since the 1st lockdown, there have been a higher demand for short-term working capital loans.
- 7.6 %: The rate of return on our portfolio.. It represents the total interests received by our lenders divided by the total loan production to date. The interests received is net of late payments and projects in defaults at the moment of the calculation. Despite the challenging environment over the last two years, we have been able to deliver a positive return. Fundkiss provides impactful investment solution which can diversify risk and boost returns on an investment portfolio. We will continue to work very hard to improve the return on investment for our lender! 🤝
- 9 days: This is the average campaign duration on Fundkiss. Thanks to our, hybrid financing model, where individual and institutional investors lend together on the different projects, we are able to finance projects quicker. We look forward to welcome more institutional investors on our platform.
The Market Has Spoken
This achievement here confirms the real need in the Mauritian market for a simpler, more transparent and collateral-free business financing option that Fundkiss offers. The market and product fit has been validated: – the Fundkiss digital financing solution works.
What began as a startup is now an unmatched business financing solution that is here to stay by popular, growing demand.
You Made it Happen.
Our achievement is a testament to the commitment of the Fundkiss team and our community of lenders and borrowers. Thank you, for making this happen.
Stepping into 2022 together, we will continue to achieve bigger milestones, to have an even bigger impact on the SME community and continue to support the growth aspirations of entrepreneurs in Mauritius, while providing investment opportunities that change lives.