Fundkiss Technologies Ltd is growing into a force to reckon in the banking and financial sector. CIM Financial Services Ltd has joined its shareholding as a minority shareholder, and it continues to attract considerable interest from the local business community.
Fundkiss Technologies Ltd has the potential of growing into a pan-African digital lending platform soon. On Friday 3rd December, CIM Financial Services Ltd, listed on the stock exchange, has announced that it has made a minority investment in this entity that allows SMEs to borrow directly from individual and institutional investors.
Although interest rates of Fundkiss Technologies Ltd are relatively higher than what traditional banks offer, SMEs can get business loans of up to Rs. 5 million with payments terms from 3 months to 5 years. Cash is disbursed faster and enables businesses to avoid cashflow crises that often stop them from seizing capital-intensive opportunities. Capital-intensive business activities include the food and accommodation industry and the manufacturing sector.
The presence of CIM Financial Services Ltd in the shareholding of Fundkiss Technologies will reassure all its stakeholders, especially its potential clients both in Mauritius and in the region.
The rapid growth of Fundkiss Technologies Ltd can be explained by the fact that traditional banks are not keen to provide financial support to companies facing cash crises, although they have orders in hand.
Fundkiss Technologies was launched in 2019 with a Regulatory Sandbox License from the Financial Services Commission. Since April 2021, it has been granted a Peer-to-Peer Lending License.
