Anaxago is a French investment group whose main retail product is property club deals: from EUR 1,000 you buy bonds issued by a company set up by a property developer or operator, typically for 6 to 36 months, with a target of 8% to 14% a year and interest and capital usually paid at the end.

Through other companies in the same group you can also reach startup and private equity funds, property funds, structured products and a life insurance contract, each with different minimums and a different regulator.

Anaxago started in Paris in February 2012 as one of France's first startup crowdfunding sites; property has since taken over, accounting for EUR 684 million of the EUR 939 million invested through the group.

The crowdfunding company holds a French AMF licence, number FP-2023-25, granted on 9 November 2023, and has no passport to other EU countries.

You must be a French tax resident with an EU bank account, so investors elsewhere are effectively shut out. Cash sits in an electronic wallet in your own name at Mangopay, ring-fenced from Anaxago's money, but the terms state plainly that invested funds carry no deposit guarantee.

Anaxago is paid mainly by the project companies, taking 5% to 10% of what they raise; whether property investors pay a fee is not consistently disclosed.