Launch year: 2018
Country: France
Categories: Investment Banking, Real estate
Funds raised: €2.1 million
Virgil enables anyone to get a bank loan without any personal contribution
Concept description
- Virgil is a Fintech that enables anyone who wishes to buy an apartment to do so without any personal contribution
- The future owner fills out a quick questionnaire to assess how much Virgil could invest into the property (up to 100,000 euros). At the end of the questionnaire a simulation is provided
- Virgil doesn’t borrow money. It invests into the property to help the future owner get the loan he/she needs with the bank
- The investment lasts up to 10 years after which the owner has to refund Virgil
Value proposition
For the end user:
- Helps young and ambitious workers to get their first apartment even if they don’t have personal contribution and start building their real-estate patrimony early on
In terms of business model for Virgil:
- Virgil invests into young owner’s properties just like an investor would invest money into a Start-up
- Therefore, if Virgil invests 10%, they own 15% of the property
- Virgil also charges 2000 euros for the administrative fees