Wecity Raises €1 Million in Three Hours to Complete Eight Homes in Figueira da Foz

29/09/2026 – ⏱ 2 min

Wecity completes the €1,000,000 mortgage loan over nine months at 11.50% for an eight-home building in Buarcos

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

A building under refurbishment on Rua Goltz de Carvalho, in Buarcos, within the Portuguese city of Figueira da Foz, has raised €1,000,000 on Wecity in three hours, at a pace of around €5,556 per minute. The raise covered the full amount requested.

The building has 552 sqm of built area and is being divided into eight independent homes for sale. The permit was granted in September 2025 and the valuation puts works progress at 59%. The total cost of the development is €1,535,000, of which the developer has already contributed €535,000 of its own funds for the acquisition and fees.

It is worth knowing where the money goes, because not all of it funds construction: the loan also cancels a debt the developer took on with a third party to fund the works so far. The fact sheet does not quantify how much goes to each. Nor is any home sold — zero out of eight — and repayment depends entirely on those sales, which will come once works are finished and the units delivered. Expected sales total €2,520,000, around €4,565 per sqm, above the completed-building valuation, which the Gesvalt report puts at €2,407,400.

The operation is a loan: investors lend the money to the developer through the platform, which undertakes to repay it with interest within the agreed term, in this case nine months extendable by three, at a fixed rate of 11.50% per annum, with a four-month lock-up and interest paid at maturity. The platform puts the total estimated return at 8.625%; this is an estimate subject to investment risk and is not guaranteed. The security is a first-ranking mortgage over the asset, with a current valuation of €1,797,500 giving a first-drawdown LTV of 55.63%. An external agent manages the security, funds are held in an escrow account and a verification company authorises each drawdown. The borrower, HUUS2ATLANTIC, belongs to a group described as a real estate agency founded in the Algarve in 2005.

Investing in real estate crowdfunding carries the risk of losing part or all of the capital: the money is locked up until maturity, the return is not guaranteed and there is no cover from the Deposit Guarantee Fund. No security eliminates that risk, and the speed of the fundraising says nothing about how the operation will end. Non-sophisticated investors have four calendar days to revoke their offer without penalty.

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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.