ClubFunding Raises €680,000 in Fourteen Days to Turn Two Floors in Central Montpellier into 19 Offices

08/10/2026 – ⏱ 3 min

The issue is fully covered without the fact sheet publishing an interest rate, term, issuing company or how it will be repaid

This article is for informational purposes only and does not constitute investment advice or a recommendation of any kind.

ClubFunding has completed a €680,000 bond issue to buy and refurbish 340 sqm in central Montpellier — the fifth and sixth floors of a building two minutes' walk from the Le Polygone shopping centre — and divide them into 19 offices. The raise took fourteen days, at a pace of €34 per minute, one of the slowest among the operations we track.

The first thing to say about this closing is what the fact sheet never published. There is no interest rate, no term for the issue and no issuing company. Those are the three basic figures of a debt operation, and the raise was covered without them appearing in the file. It is also the second consecutive fact sheet from this platform in our coverage to omit rate and term: the one for the three flats in Hyères, which we published on 1 October, did not carry them either. Investors must look for them in the contractual documentation.

The point that defines the operation is how the money gets repaid, and here there is a particularity. The operators are not going to sell the asset: they want to keep the 19 offices and let them to independent professionals. The fact sheet does not explain with what funds the issue will be repaid. Without a sale, repayment can only come from rents or from refinancing the debt, and the file quantifies neither route.

On demand, what there is are letters of intent, which are not signed leases. And the documentation places expected rents above the observed market average without providing comparables to support it. The platform adds that the partners previously developed a paramedical centre in Montpellier, Magnolia, which it presents as 100% occupied.

The asset's figures are modest and consistent with each other. The purchase comes to €270,000, around €794 per sqm, and the works budget is estimated at €462,000 including VAT: renovation of the interior spaces plus electrical, plumbing, air-conditioning, ventilation and joinery work. In total €732,000 — that is, €52,000 more than was raised, a difference the operators would have to cover without the documentation quantifying it. The debt equals some €2,000 per sqm and the total cost some €2,153.

The security is a first-ranking mortgage registered over the financed asset and a joint and several personal guarantee from the legal representative, a natural person. There is no independent valuation, no LTV and no LTC: with the purchase closed at €270,000 and debt of €680,000, investors have no reference value for the completed property against which to measure their cover. According to the platform, the operator has already repaid one previous operation on ClubFunding.

The platform itself warns that the higher the interest rate, the greater the risk of loss of capital or non-payment of interest, and that past returns do not anticipate future ones.

Investing in real estate crowdfunding carries the risk of losing part or all of your capital: the money is locked up until maturity, returns are not guaranteed and there is no deposit guarantee fund cover. No security eliminates that risk, and the outcome of the raise does not anticipate how the operation will end. Non-sophisticated investors have four calendar days of reflection to revoke their offer without penalty.

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Realty Investor

Your real estate crowdfunding, in one app.

Discover new opportunities. Invest through leading platforms. Manage your whole property portfolio from a single place.

The Realty Investor beta is now available. Explore the market, discover new projects and get to know the platform with simulated money, without putting in any capital.

Download the beta and start discovering a new way to manage your real estate investments.