Raizers allows you to invest, from €1,000, in a selection of unlisted European investment products selected by our team of analysts. You have access to products that will allow you to build a diversified portoflio, based on 4 types of products:

  • Loans to real estate developers and property dealers, via bonds (real estate crowdfunding);
  • The purchase of real estate for rental through dedicated investment companies;





Access to your account and detail by project


Your investment


Follow up of your investment


1. Subscription

Our regulatory accreditations require us to limit access to transaction details to persons who already subscribed. Access to transactions therefore requires the creation of an account.

This registration is free and takes only a few minutes. To identify yourself, we ask you to provide us with your contact information (name, first name, email address and telephone number) and to choose your password. You can also register through your LinkedIn profile.

Espace client

2. Access to your account and detail by project

Your account allows you to access all the information related to the transactions presented on the platform:

A detailed description of the operation, stakeholders and financial balance sheet;

A presentation of the operator raising funds: annual accounts, transaction history, references, etc;

Legal, financial and regulatory documentation relating to the subscription.

This account also allows you to communicate directly with CEOs of the company raising funds via access to a dedicated forum by operation.

Finally, you will find the information provided during your registration on the « Mon Profil » page.

Votre investissement

3. Your investment

Once your selection is made, you can click on the "Invest" button.

First of all, we invite you to complete your profile by specifying your address, nationality, country of residence for tax purposes and by providing us with your IBAN, which is necessary for the repayment of the capital and the payment of interest in the context of lending operations.

This takes you to the investment interface. We ask you to attach the necessary supporting documents to validate your investment as part of the anti-money laundering regulations;

  • If you are a physical person: a valid identity document (identity card, passport, driving licence, etc.) and a proof of residence of less than 3 months;
  • If you are a legal entity: the valid identity document of the legal representative, an extract from the commercial register of less than 3 months, a copy of your certified articles of association and a shareholder declaration - you can download a copy, print and sign it.

If you are a individual, you complete a suitability test to determine whether your investment project is relevant to your investor profile;

You validate our commercial conditions in the context of this fundraising (intermediate information sheet);

Once validated, you automatically receive by email a regulatory information document containing all the information relating to the issuer, the operation and its progress;

You sign an electronic subscription form, via our authorized partner UNIVERSIGN and pay your subscription.

  • By credit card: the amount is debited directly from your account;
  • By bank transfer: you will receive the necessary details to proceed in the subscription confirmation email;
  • Via the money available on your Raizers account, if applicable.
  • Via votre PEA-PME : dans ce cas, merci de vous rapprocher de nos conseillers en investissement ;

Credit card and bank transfer payments are processed in collaboration with our partner, an approved European payment service provider, MangoPay SA, a subsidiary of Crédit Mutuel Arkea.

The funds are sequestered until the end of the fundraising. At the end of the collection phase, if the minimum fundraising threshold is reached, the funds are transferred to the issuing company. If the minimum fundraising threshold is not reached, the funds are paid back to the investors.

The products currently offered on the Raizers platform do not lead to costs for you.

Suivi de votre investissement

4. Follow up of your investment

Raizers remains your privileged contact after the fundraising. In the vast majority of cases, we become the representative of your interests (equity investment) or of the group of bondholders (bond) after the raising of funds. In the case of investment holding companies, we can also assume the position of chairman of these companies. If this is not the case, this information is specified in the "Interim Information Sheet" before your investment.

In all cases, Raizers provides you with a dedicated interface per operation with all the elements provided by the issuer after the financing. Once a year, Raizers carries out a complete review of the operations which is provided to all investors.



Raizers allows investors, individuals or companies, to participate in the financing of real estate development projects (new construction) or operations carried out by property dealers (division and renovation with the goal to resale).

For each selected project, Raizers organizes a fundraising campaign in the form of a bond:

You lend a sum of money to the company, which pays you interests, from 6 to 12% per year, for a period of up to 36 months;

The real estate developer borrows quickly, leveraging from banks while mobilizing less personal funds. This funding will also allow him to communicate, to as many people as possible, about his operation and thus sell it more quickly.

The bond loan is subscribed either:

By the company carrying the acquired or built asset;

By a company in the operator's group, usually the operational parent company, which will invest this loan in capital and current accounts of the "project" company, generally in the form of a civil company (SCCV in France), which is the company that acquired the property.

The loan granted is sometimes accompanied by guarantees provided by the operator, in the form of a personal guarantee on its assets or a first-demand guarantee provided by the group's parent company.

Bond issue example:

Loan amount: 10 000€

Maturity: 3 ans

Annual interest rate: 10%

Method of capital repayment: at the end (in fine)

Method of interests repayment: paiement annuel

crowdfunding immobilier, greencrowdfunding, financement participatif, immobilier locatif participatif, complément fonds propres, CRE


  • Attractive returns: 9.82%* on average since 2016** (past performance is not indicative of future performance) ;
  • A short-term mobilization of your funds: 21 months on average since 2016**;
  • An entry ticket accessible to the greatest number, from 1 000€. No subscription fees or management fees;

Real estate operations audited by a by a team of professionals, recognized in the real estate crowdfunding industry*** and whose managers have been accredited by the AMF. See profiles for more information.

We remind you that investing in securities issued by unlisted companies involves specific risks (risk warning).

*internal rate of return net of risk

** Weighted average since 2016 on this product. Source performance: see performance indicators

*** Ranking of the Décideurs and of Argent et salaire


CAUTION, investment in securities issued by unlisted companies involves specific risks.

Liquidity risk: liquidity is the ease with which you can resell your securities after subscribing to them. The securities you buy on Raizers are, in the short term, unlikely to be traded in a secondary market, i.e. in a market for buying and selling existing financial assets (or "second-hand market"). Therefore, you may not be able to sell them when you want to.

A risk of capital losspartial or total because the return on investment depends on the success of the operation financed. When subscribing to bonds, the risk and return profile is asymmetrical. 

The higher the profitability, the higher the risk associated with this investment. 


Fiscal risk: before the end of your investment, new tax rules may be imposed on the proceeds of your investment. This can potentially reduce the return on your investment.

Inflation risk: the value of the capital invested through bond subscriptions and interest received at maturity may depreciate over the life of your investment.  This can potentially reduce its return. 


Raizers is responsible for managing the repayment of bonds. The operator pays his installments through an escrow account. All tax deductions from your profits are then made by Raizers before any net interest is paid into your Raizers account. Once received, you can reinvest them in a new transaction or request a refund.

You are a French tax resident

The interest you receive on a bond issued by French and foreign issuers, known as "bond coupons", is a fixed-income investment product from the point of view of the tax authorities.

For an individual, these products are subject to the Prélèvement Forfaire Unique (flat tax), i.e. :

  • Social security contributions, deducted at source (17.2%);
  • To income tax, with an income tax installment (12.8%), deducted at source, not in full discharge.
  • This deposit is deducted automatically and is paid back in the form of a tax credit in the pre-filled tax return (box 2CK).

However, until 30 November of the investment year (N), you may request to be exempted from the payment of this deposit if your household's reference tax income (RTI) on the N-2 income is :

  • Less than €25,000 if you are single, divorced or widowed,
  • Less than €50,000 if you are subject to joint taxation.

This request for exemption is a sworn declaration which engages your responsibility in case of false declaration. Please contact our investment advisors if you would like to obtain a sample request for exemption from withholding tax.

For a company, the interest that you receive in the context of a bond loan, known as "bond coupons", are fixed-income investment products from the point of view of the tax authorities. They are accounted for as financial income and as such are subject to corporate income tax (CIT).


If you are a tax resident in another country, Raizers does not take over the tax management. Please do not hesitate to contact our investment advisors for a personalised analysis.

All the projects presented on the Raizers platform have been previously analysed and validated by our analysts. In all cases, Raizers advises you to diversify your investments and to favour investing amounts that you will not need in the future.


1. Personal guarantee

It is quite common to ask, in order to guarantee a loan, that the leader establish a personal guarantee. This commits the manager to his own assets and requires him to personally assume the repayment of debts if they remain unpaid by the company. This personal guarantee must be accompanied by a handwritten text stipulating that the director has control over the scope of the commitments made and their amount. In the event of death, the guarantee is passed on to the heirs at the time of succession, if the succession is accepted. For more details, see our dedicated article on this subject.

2. Duration or maturity of the loan

The duration of the loan, also called maturity, is determined prior to the transaction.  It indicates to the investor at what maximum maturity the capital invested and the interest over the period will be repaid. In 2019 for Raizers, the average maturity was 20 months.

3. Issuer

In the context of real estate crowdfunding, the issuer is the property developer or property trader. It issues a debt that will be subscribed by investors. The investor lends money to the issuer, who, in return, will pay interest over the term of the loan, in addition to repaying the capital invested.

4. Depreciable loan

Example within the framework of a real estate crowdfunding operation: the investor lends 1000€ at 10% per year for 24 months, amortizable annually, the developer will thus have to pay :

  • 600€ at the end of the 1st year (500€ capital + 100€ interest, calculated as follows at 10% x 1000€ capital over 12 months)
  • 550€ at the end of the 2nd year (500€ capital + 50€ interest, calculated as follows at 10% x 500€ capital over 12 months

5. Borrowing in fine

The loan or loan in fine, is a loan whose capital will be repaid in full at maturity. The interests can be paid in several installments or at maturity.

Example in the context of a real estate crowdfunding operation: the investor lends 1000€ in fine at 10% per year for 24 months, the developer will have to pay:

  • 100€ at the end of the 1st year (i.e. 10% interest x 1000€ capital over 12 months).
  • 1100€ at the end of the 2nd year (1000€ capital + 100€ interest, 10% x 1000€ capital over 12 months)

6. Flat tax or PFU

In the case of individual investors residing on French territory, interest received in connection with a bond issue is subject to the Prélèvement Forfaitaire Unique [1]. It is divided into two parts: social security levies (17.2%) and income tax (12.8%). In both cases, the deduction is made at source (organized by Raizers) and the interest received by the investor is net of tax.

7. First Demand Guarantee

The first demand guarantee is a security which commits the guarantor (in this case the borrower), in the context of an obligation subscribed by a third party (in this case the investor), to reimburse the sum due, either at the first request of the creditor or according to previously agreed terms. This guarantee is on the same level as a personal guarantee when it is given by a company. For more details, see our dedicated article on this subject.

8. GFA

The financial guarantee of completion is an insurance given (by a bank or an insurer) to a property developer on behalf of the purchasers under compromise of the property to be built. This insurance provides a guarantee that, in the event of default by the developer, the construction will be completed and the purchased goods delivered.

It is issued by an insurer who, in return for a percentage of the construction cost and several guarantees (mortgage, first demand guarantee, personal guarantee of the manager, etc.), undertakes to pay for the construction in the event of default by the builder. Note that for commercial real estate transactions, the GFA is not mandatory. However, it is mandatory for residential real estate.

9. Mortgage

The mortgage is a security on an existing property (land, building, house ...), allowing the lender to seize the property on his behalf in case of default.

The mortgage may be first or second rank, the rank indicating the order of priority of creditors for repayment.

The first-ranking mortgage ensures that the creditor is repaid first in the event of default. In practice, this means that the creditor will be the first to be paid by the notary once the funds are available. When a creditor takes out a mortgage on a property that has already been mortgaged, it is called a second mortgage, and will have to wait for the first mortgage to be repaid before it can be paid off.

10. Interest and coupons

A coupon is attached to a bond. It represents the interest paid to the holder of that bond, in this case the investor. Historically, bonds were printed on paper and accompanied by detachable coupons, with the payer withdrawing the corresponding coupon as soon as he made a redemption.

To illustrate, let's take the same example as above, with our €1000 bond with 10% interest over 24 months, a coupon is 1000 x 10% or €100 to be multiplied by two, given that this interest rate is over 2 years. This bond is therefore accompanied by two €100 coupons

11. Bond, bond loan and bond contract

A bond is a debt issued by a legal entity (here a company) to finance itself with investors, called bondholders. Bonds are financial securities that are equivalent to debt for the company issuing them. Within the framework of a bond loan, the company and the investor sign a bond contract that formalizes the loan and sets the maturity (duration of the loan), the interest rate and the other obligations of each.

12. Yield or profitability

When raising finance for a real estate project, an interest rate is negotiated in advance between Raizers and the real estate developer. This rate represents the return on the invested capital that will be paid to the investor, either at regular maturity or at the end of the contract (loan maturity). Example: for 1000€ invested with a 10% return, over a period of 24 months, 100€ will be paid to the investor at the end of the first year, and 1100€ at the end of the second year. That is to say 200€ of interest paid.

13. Mass of bondholders

The bondholder pool represents all bondholders on a single project, as an entity in its own right. The representative(s) have the power, on behalf of the mass, to take decisions in the common interest.

In a project funded on our platform, Raizers represents the bondholders' mass.

14. Liquidity risk

For each transaction, the investor is advised that investing in bonds presents a liquidity risk. Indeed, even though these bonds are freely transferable, there is no market place available to sell them easily. It will therefore be necessary to find on one's own to find an investor willing to repurchase these bonds.

In practice, this means that the investor, unless he finds an external buyer, will only be able to recover his capital at the redemption date stipulated in the bond contract.

15. SCCV

A civil construction-sales company (SCCV) is a form of company widely used by developers. The SCCV operates like a classic civil company, its corporate purpose is specific. The SCCV is not directly imposed, it is said to be transparent. Indeed, taxes are paid by its parent company if it is owned by another company or levied on the income of each partner if it is owned by one or more individuals. Its duration is 99 years maximum but it ends as soon as its purpose is achieved (end of construction and sale of lots for example).

In the case of a bond loan, it is the holding company or SAS that owns the SCCV that carries the loan.

16. VEFA

VEFA is the acronym for Vente en l'Etat de Futur de Completion. It consists, for a buyer, to buy a housing on plan and thus not completed. The VEFA is a contract between the purchaser and the developer which guarantees the completion of the construction for the purchaser and allows the developer to be paid as the work progresses. To do so, a payment schedule is set by the developer and the balance is paid upon delivery of the property by the purchaser. In the case of a sale by VEFA for residential property, the developer is required to subscribe to a GFA (see definition) to guarantee the completion of the work.

In addition, there are tax advantages linked to the purchase as a VEFA: reduced notary fees because it is a new property (2 to 3% compared to 8% on old property), the Pinel law which allows you to benefit from tax advantages by renting the property for a minimum of 6 years, or even zero rate loans to finance up to 40% of the purchase of a new property, the costs of which are borne by the State.

[1] This rate is settled every year by the Law of Finance