AI-Powered Analysis: Homunity Platform

Homunity Platform Overview 🏘️

Homunity is a French real estate crowdfunding platform that lets individuals invest in property development projects and other real-estate products entirely online. Founded in 2014, it has grown into one of France’s largest property crowdfunding sites, now backed by asset manager Tikehau Capital. Investors can finance real estate developers via short-term bonds (typically 1–3 years) and earn attractive interest (around 8–10% annually). Key advantages include a user-friendly digital experience and rigorous project selection supported by Homunity’s experienced team and institutional co-investment (a Tikehau fund often co-invests alongside retail backers). However, ⚠️ risks are significant: many projects face delays or legal troubles in the current market downturn, raising concerns about late repayments and potential losses. Homunity is fully regulated by the French financial authority (AMF) and holds a European crowdfunding license, but investors must still accept illiquidity and the risk of capital loss inherent to this alternative investment.

Homunity Investment Products and Model

Product Offering: Homunity specializes in real estate debt crowdfunding – primarily financing property development projects via corporate bonds (obligations) issued by developers. Investors lend money (from €1,000 minimum per project) to fund construction or renovation deals and earn interest, usually paid at project completion (in fine). Typical target yields range ~8–12% gross per annum, with higher rates for riskier projects. Loans last about 18–30 months on average (initial term), though extensions are common if projects are delayed. Homunity also diversifies its offerings: it acts as a broker for SCPI funds (French real-estate investment trusts) – currently distributing ~18 different SCPI funds for those seeking ~4–6% annual income (note: high entry threshold ~€5,000). Additionally, the platform curates “investissement locatif” opportunities (new rental apartments under schemes like Pinel, LMNP, etc.) where investors can purchase property shares or units for rental income and tax benefits. In 2022 Homunity even launched “Homunity Vie,” a life insurance policy (with Suravenir/Crédit Mutuel Arkéa) that allocates to real estate funds – offering three risk profiles and a €5,000 minimum. This multi-product approach makes Homunity more than just a crowdlending site, positioning it as a one-stop real estate investment platform.

How Returns are Generated: For crowdfunding loans, returns come from interest paid by real estate developers. Homunity’s projects are structured as fixed-rate bond issues, so if the developer succeeds, investors get back their principal plus interest (often around 9–10% yearly as contracted). SCPI investments generate returns through rental yields (distributed quarterly by the fund managers), while rental investment deals produce rental income and potential tax reductions (e.g. under Pinel law) rather than high yield. The Homunity Vie insurance yields depend on underlying funds (including real estate unit trusts and Tikehau-managed funds)– giving a balanced exposure. Crucially, none of these returns are guaranteed: they depend on project success. Crowdfunding interest is only paid if the borrower repays, so a developer default could mean no interest and loss of capital. SCPI yields can fluctuate with property markets, and insurance or rental outcomes vary with market conditions.

Legal & Structural Setup: Homunity’s crowdfunding investments involve a direct bond contract between the investor and the project company (via the platform). Each project is vetted and given a term sheet detailing any guarantees or collateral: many loans carry a first-rank mortgage, personal guarantee, or pledge on assets to mitigate risk. However, these protections aren’t foolproof – they may partially recover funds if a developer fails, but investors still face possible total loss if the project collapses. There is no fund pooling or insurance on the platform’s side; each project stands alone legally. Homunity itself is structured as SAS Homunity, a French joint-stock company, and does not take deposits – it intermediates the deals with client funds held via a payment partner until disbursed to projects. Investors must acknowledge that their funds are locked in for the project duration with no secondary market to sell early. The platform sets a regulatory cap of €5 million per project raised (per EU crowdfunding rules), and typically each investor can allocate as much as they want (within that limit) per project. There are no formal geographic diversification options within crowdfunding – Homunity’s projects have historically been almost exclusively in France (residential and commercial developments nationwide). By focusing heavily on property development, the platform inherently concentrates risk in that sector (something noted as a drawback when the real estate sector struggles).

Risk Considerations: Homunity clearly warns that investments carry risks of default, illiquidity, and loss. Default risk means a developer could fail to repay if their project goes bankrupt – in such cases, investors might recover only part of their money or nothing at all (after legal proceedings). Illiquidity is guaranteed: once you invest, ⚠️ you cannot withdraw or cash out until the project ends, which can take much longer than expected if there are construction delays or extensions. Many projects have run over schedule (by months or even years) due to factors like COVID-19, supply chain issues, or rising costs, so investors must be patient. There is also a risk of interest not being paid if a project underperforms – the advertised yields are “target” rates, not guaranteed coupons. Homunity mitigates some risk by strict selection and requiring collateral, but the risk of capital loss remains. As of 2025, the platform reports an historical 0% realized loss rate (no project has completely defaulted with permanent loss yet), but this may be partly because troubled loans are still in recovery. Investors should diversify across many projects (Homunity’s average investor funds ~6 different deals to spread risk) and only invest money they can afford to tie up and potentially lose.

Homunity Company Background and Regulation 🏢

Founding and Ownership: Homunity was founded in 2014 in Paris by three entrepreneurs – Quentin Romet, Arnaud de Vergie, and Charles Teytaud– with the initial idea of group investing in rental properties. The startup pivoted to real estate crowdfunding for developers, and by late 2017 it had funded ~8 million € of projects and even reached profitability. A major turning point came in January 2019 when Homunity was acquired by Tikehau Capital (via its subsidiary Credit.fr). Tikehau Capital is a large French asset manager, and its backing provided Homunity with a strong financial parent and resources to scale up. After the acquisition, co-founder Quentin Romet remained as President (CEO) of Homunity and continues to lead the company’s strategy. Today, Homunity operates as a subsidiary of the Tikehau Capital group, benefiting from the group’s credibility and network. For example, Tikehau helped launch two co-investment funds (Tikehau Homunity Funds) of €28M and €45M that invest alongside Homunity’s crowd in projects, aligning the platform’s interests with investors. Homunity has also partnered with Boursorama Banque (France’s largest online bank) – since 2022, Boursorama offers Homunity’s investments on its channels and even integrates them into a PEA-PME account (a special stock savings plan) for tax advantages. This partnership, a first of its kind, raised Homunity’s profile and investor base.

Management and Team: The company’s leadership includes experts in both real estate and finance. CEO Quentin Romet is an alumnus of Grenoble Ecole de Management and has overseen over 400 property financings via Homunity. Supporting him is Pierre-Yves Appert (Deputy General Director), an engineer-turned-real estate asset manager, and heads of key departments like Hugues de La Tousche (Director of Savings) – who joined in 2024 after experience at another lending platform – and Florian Degunst (Head of Risk Analysis), a former Société Générale banker who specializes in structured real estate finance. The team has grown to around 35 employees (as of recent years), including in-house legal counsel, marketing, and an investment committee for vetting deals. Homunity also collaborates with partners such as notaries, escrow agents, and its parent’s institutional contacts to execute the funding process. The platform’s legal structure is SAS Homunity, registered in Paris (RCS #804388627), with a modest share capital (€20,542) reflecting its startup roots. Being part of Tikehau’s ecosystem, Homunity is sister to other fintech firms like Credit.fr, but it operates under its own brand focused on real estate.

Regulation & Licenses: Homunity is a fully regulated investment platform in France and the EU. It obtained in 2023 the new status of “Prestataire de Services de Financement Participatif” (PSFP), which is the EU Crowdfunding Service Provider license administered in France by the Autorité des Marchés Financiers (AMF. Homunity’s AMF registration number is FP-2023-31, signifying it complies with pan-European crowdfunding rules that took effect in November 2021. Prior to that, Homunity was licensed as a Conseiller en Investissements Participatifs (CIP) since 2016 and was a member of France’s crowdfunding association. In addition to the crowdfunding license, Homunity is also authorized as a Conseiller en Investissements Financiers (CIF) – essentially a financial investment advisor – and is registered with ORIAS (the French register of finance intermediaries) under number 16003112. This allows the platform to give investment advice and distribute products like SCPI funds and life insurance. Homunity is further registered as a courtier en assurance (insurance broker) via ORIAS, due to offering the Homunity Vie life insurance. The platform is thus supervised by the AMF for its crowdfunding and advisory activities, and by the ACPR/ORIAS for insurance mediation – ensuring multiple layers of regulatory oversight. Investors’ funds are handled through a licensed payment institution (client accounts) to segregate them from Homunity’s own finances, as required by law. Overall, Homunity operates under the robust French/EU investor protection regime, and it is also a member of industry bodies like France FinTech and Financement Participatif France, adhering to their codes of conduct. This regulatory compliance means the platform must report statistics, handle client assets prudently, and maintain plans for continuity (for instance, if Homunity ceased business, a third-party would take over managing outstanding loans so investors aren’t left stranded).

Homunity Performance Volumes and Results (2024–2025) 📈

Homunity has achieved substantial volume growth, making it a market leader in real estate crowdfunding. As of late 2025, the platform reports over €834 million total invested since 2014 across more than 640 funded projects. (For context, by early 2024 it had crossed ~€780M and 554 projects, so growth has continued despite a tough real estate climate.) The investor community is large: 150,000+ registered users, of whom about 35,000 are active investors with money in projects. Homunity’s scale and backing allowed it to finance some of the biggest deals in the sector – its largest single project raise was €8 million (a record crowdfunding raise it cites).

In terms of returns and performance, Homunity’s average gross interest rate on crowdfunding projects has been around 9–10% per annum. In 2024 specifically, the platform distributed an average yield of 9% to investors, and the latest published figure for early 2025 shows an even higher average 10.55% gross in 2024 amid rising rates. However, these are projected returns assuming timely repayment; actual realized returns have been impacted by delays. After accounting for project extensions and risks, the platform’s overall net internal rate of return (IRR) to investors stands lower – about 6.3% IRR net of risk since 2016 (versus ~8.7% IRR if everything paid on time). This gap reflects the “cost of risk” (lost time/value from late projects) which Homunity calculated at ~2–4% per year in recent cohorts. Still, for projects that do complete successfully, most have delivered the promised ~8–10% annual interest to investors. The average investment size on Homunity is ~€3,600 per project, and the average investor’s portfolio size on the platform is around €24,000 spread over multiple deals, indicating that many users diversify their funds across several offerings.

Investor Payouts and Defaults: Cumulatively, Homunity has repaid €329 million in capital and €68.7 million in interest to investors since inception (figures updated late 2025). Notably, no project had resulted in a definitive capital loss as of 2025 – the platform officially reports 0% principal default to date. This means every completed project either repaid in full or is still ongoing; however, this statistic comes with a big caveat. A significant number of projects are in trouble due to France’s real estate slump in 2022–2023. Many developments have been delayed or developers have entered court-administered restructuring, so losses may simply not have been realized yet (but could occur in the future). The latest performance report shows 80 projects (≈12% of all deals) are in procédure collective (insolvency proceedings), with around €158 million of investor capital at stake in those. This represents roughly 31% of all outstanding loan capital on the platform – a critical red flag. Additionally, dozens of other projects are running late: as of Nov 2025, about 50 projects (≈8% of total) were 0–6 months overdue on repayments, and 61 projects (~10%) were over 6 months overdue. Combined, roughly 69% of live outstanding investments by value are delayed or under insolvency processes. Homunity emphasizes that it’s working to resolve these and that investors have so far eventually recovered capital on delayed deals, but the exposure to default risk is high. For instance, in 2023 the share of projects in serious delay or default shot up, causing the net effective returns to drop (only ~5.4% IRR net in 2023 due to write-downs for risk).

To put it plainly: Homunity boomed in volume (hundreds of millions funded) and delivered strong yields on past projects (~9% avg.), but current performance is under strain. Investors should carefully note the default metrics: per Homunity’s own data (Nov 2025) about 16% of outstanding loans are over 6 months late and another ~32% are in legal recovery. So far no investor has lost principal outright, but many are facing long delays (some projects funded in 2020–21 still haven’t repaid by 2025). Homunity’s best-case returns remain attractive (some projects even repaid early with ~10% yield), and the highest interest earned on a single deal was around 12% annual. The platform even boasts of a few “success story” projects that sold out in 1 minute due to high demand. But given the broader market issues, the real test is how the troubled loans resolve in 2024–2026. Homunity publishes all these performance indicators transparently on its site (in line with regulatory requirements) so investors can track default and delay rates over time.

Homunity’s Risk Management and Project Selection 🛡️

Homunity prides itself on a stringent risk management process for choosing projects. The platform accepts only a small percentage of deals proposed by developers – management has indicated a “selection ultra-rigoureuse” (ultra-rigorous selection) focusing on experienced, solvent real estate promoters. Each prospective borrower undergoes due diligence: Homunity’s team reviews the developer’s track record (past projects and any prior delays), the project business plan and permits, sales forecasts, construction contracts, and the financial structure. They typically require that the developer has skin in the game (equity) and often that a bank loan is also involved (so the bank also vets the project). Homunity favors projects where the developer is established – indeed many funded deals were with mid-sized regional developers, though even some reputable firms have hit trouble lately. To further manage risk, Homunity often secures guarantees on loans: 📝 each project listing discloses any collateral such as a 1st-rank mortgage on the property, a personal guarantee from the developer’s principals, or a pledged escrow account. About 80%+ of deals have at least one form of security in place, which can improve recovery chances if things go wrong. That said, the value of guarantees depends on the project’s outcome (a mortgage only helps if the property can be completed or sold).

The platform historically specialized in residential real estate development (apartment buildings, housing estates), which means sector concentration risk. In recent years, Homunity did include some commercial developments (offices, student residences, hotels) and rehabilitation projects, and through its SCPI and rental products it offers exposure to stabilized assets. However, around 90% of crowdfunding deals are property development – a sector now facing headwinds (rising rates, cost inflation). This concentration is a known issue: even Homunity’s team acknowledges that the focus on development “reduced diversification potential” and hurt the platform when the housing market slowed. To counter this, Homunity’s risk strategy in 2023–2024 shifted to favor higher-quality promoters and higher interest rates (new projects launched now often carry 10–11% yields to price in risk). It also occasionally co-funds projects with its institutional partner fund (Tikehau Homunity Fund) which will step in to fill a part of the loan if retail demand is low. This not only helps fund projects faster but also means Homunity/Tikehau have a stake in the deal’s performance, aligning them with retail investors (the fund’s money is at risk too).

Internal Risk Assessment: Homunity has a Risk & Analysis department led by a director (as noted, Florian Degunst) which evaluates each project and assigns an internal risk grade. Though the platform doesn’t publicly display a letter grade on projects, it effectively prices risk via interest rate (more risky deals are offered at higher rates). They maintain a credit committee that must approve every project before it goes live. The team also performs stress-tests on project finances (e.g. what if sales are 20% lower or construction 6 months late?) to ensure the developer could still repay in tough scenarios. If a project doesn’t meet their criteria, Homunity rejects it – they claim to accept only a small fraction of submissions. This approach kept the historical default rate under 1% for years, until the recent crisis pushed several into default proceedings. Even now Homunity asserts its “taux de défaut <1%” in terms of definitive losses, meaning that so far virtually all investors have recovered principal, albeit with delays. The key risk metrics are monitored and published: Homunity updates the percentage of projects in delay categories every quarter on its site. These reports, audited under a sector charter, add to transparency and discipline in risk management.

Ongoing Monitoring: Once a project is funded, Homunity doesn’t just disburse and disappear – they actively monitor progress. The platform receives quarterly updates from developers and often hosts investor webinars or conference calls for certain projects. Investors have a personal dashboard where each project’s status is shown (e.g. “works in progress”, “units X% sold”, etc.), and Homunity’s team updates expected repayment dates if there are delays. However, some investors have criticized the project updates as too vague (“lack precision” on issues like sales progress or construction stages). Homunity has acknowledged this and indicated plans to improve communication. When a project goes into legal proceedings (safeguard or bankruptcy), Homunity coordinates with administrators and informs investors of outcomes. By regulation, as a PSFP platform Homunity must also have a plan for a third-party servicer to take over if Homunity itself fails, ensuring loan administration continues. This gives investors some reassurance that even in a worst-case scenario (platform bankruptcy), their contracts with developers remain valid and someone will handle recoveries.

Risk Warnings to Investors: Homunity is careful to present standard risk disclosures. Every investment page and the signup process remind users of risks of total capital loss and liquidity risk. The platform encourages diversification and only investing a portion of one’s portfolio. Interestingly, some feedback suggests Homunity’s sales calls to investors tended to emphasize positives over risks (a point of critique: some felt the sales team was too “commercial” and optimistic). In response, Homunity has started including more educational content about risks on its blog and even showing the rising delay statistics openly. Overall, the company’s risk management ethos, bolstered by the Tikehau connection, is a strong point – but the ultimate test is playing out now as they work through the unprecedented wave of delayed projects.

Homunity Platform Features and Functionality 💻

Homunity offers a modern, mostly intuitive investing platform, though with some quirks. Account setup and investor dashboard: Users can sign up online in minutes, complete KYC (upload ID and proof of address), and fill out a brief suitability questionnaire. Once verified, you get access to a personal dashboard that shows available projects, your portfolio holdings, and documents. The interface allows you to browse project listings with details like location, developer info, financials, and any guarantees. For each investment, Homunity provides downloadable contract notes and information documents (the bond contract, risk notice, etc.) for transparency. Investors can also see a repayment schedule and the expected maturity date for each loan in their portfolio. Regular reports and updates are posted to your account as projects progress, and annual tax statements (for interest earned) are provided for download around tax time. The platform supports communications – investors receive email alerts for new projects and for any status changes or delays on projects they funded.

One thing to note: Homunity developed a mobile app, and as of recently some transactions may need to be completed through the app. In fact, some users reported that while a web interface exists, investing orders must be confirmed via the mobile app, making the experience somewhat mobile-centric. This suggests Homunity is aiming for a fully digital, smartphone-friendly service. The app (and website) allow investors to enable notifications for new deal launches – useful because popular projects can fill up quickly (73% of projects in 2022 were fully funded in under a day). There is no “auto-invest” feature on Homunity at this time – unlike some P2P platforms, you cannot automatically allocate funds to new loans. The reasoning may be that projects often oversubscribe and require investor choice due to varying terms. Investors manually select each project to invest in, which lets them read the details and decide. The platform does have a project filter so you can view offerings by category (e.g. crowdfunding vs SCPI vs rental) easily, and it highlights when projects are nearly filled (“En cours – plus que X% disponible”).

Secondary Market: Homunity does not provide any secondary marketplace or early exit mechanism for its crowdfunding investments. Once you invest in a given bond, you are committed until the loan is repaid by the developer. The platform explicitly states investments must be considered illiquid. This is a major functional limitation – if an investor needs cash, they cannot sell the loan to someone else on Homunity. (In contrast, a few competitors have introduced secondary trading, but Homunity hasn’t, partly due to French regulatory complexities and possibly low liquidity.) For SCPI units purchased via Homunity, liquidity depends on the SCPI fund’s own policies – some SCPI have repurchase markets, but Homunity is just the distributor (they note that SCPI share redemptions are not guaranteed and depend on finding buyers on the fund’s side). In summary, investors should expect to hold any Homunity investment to maturity or longer.

Tools and Information: Homunity provides various tools to help investors make decisions. Each project page contains a detailed description, photos or plans of the property, the development budget, timeline, and the expected return and term. There is also a section introducing the developer company and their past projects, which is crucial for trust. Homunity’s team sometimes adds a brief analysis or key points about the project (e.g. “strong location”, “50% units pre-sold”) to highlight why it was selected. However, unlike some platforms, Homunity does not give a proprietary credit rating grade (like “A, B, C”) visible to investors – you must infer risk from the interest rate and details. The platform also does not have an internal auto-diversification tool (no automatic spreading, since no auto-invest). Portfolio tracking is straightforward: your dashboard shows each investment’s principal, interest earned to date, and status (on schedule, delayed, etc.). Homunity allows you to download account statements and an aggregated annual performance report which is handy for record-keeping.

Supported Currencies and Languages: Homunity operates in Euros (€) only. All investments are euro-denominated, and you must fund your account in EUR (usually via bank transfer or card). The platform’s primary language is French, as it targets the French market. The website and customer service are in French (there isn’t a full English version of the site). Nevertheless, Homunity does accept international investors: non-French residents from most countries can sign up (the site notes only sanctioned countries are excluded). Foreign investors simply have to handle their own tax reporting at home. The platform paying interest gross of withholding for non-residents can be beneficial. Homunity’s customer support is available via phone and email on weekdays, and from user feedback, the team is quite responsive in answering questions about the dashboard or projects. They also maintain social media and a blog with news (in French).

Extra Features: There is no built-in auto-invest or secondary market, as mentioned, but Homunity has introduced some innovations. One is the PEA-PME integration in partnership with Boursorama – if you are a Boursorama Banque client, you can invest in Homunity deals directly through your PEA-PME account with zero fees and tax advantages. This effectively adds liquidity in that you could later sell your entire PEA-PME portfolio (though not individual loans) or benefit from the PEA tax exemption after 5 years. It’s a niche feature but a unique one that Homunity leads in. Another aspect: documentation and guidance – Homunity’s site offers an FAQ, investor guides, and even a “diagnostic” quiz to suggest suitable products. While not a tool per se, it helps new investors navigate options like SCPI vs crowdfunding. They also sometimes share expert commentary via webinars or blog posts about the real estate market outlook, which can help investors gauge risk. The platform currently operates in French and Euro only, with a focus on tech-savvy retail investors (its interface is 100% digital with electronic signatures, etc., no paperwork). Overall, Homunity’s functionality covers the essentials for investing and tracking, though investors must be comfortable without features like a resale market or automated allocation.

Homunity Fees and Pricing Structure 💶

Investor Fees: Homunity is quite attractive in that it charges zero fees to investors for all its standard investment products. There are no account opening fees, no transaction fees, and no annual management fees for using the platform. If an investor commits €1,000 to a project, the entire €1,000 goes into that investment (and is expected to come back with interest if all goes well). This is a big positive compared to some financial products. However, one small caveat: if you choose to fund your Homunity wallet via credit card (rather than bank transfer), there is a flat €8 fee charged. This is basically to cover the card processing cost. You can avoid it by simply depositing via a normal bank transfer (which is free and the typical method). Homunity doesn’t nickel-and-dime investors with any other hidden costs. Even selling SCPI shares or subscribing to the Homunity Vie life insurance comes with no extra platform fee – any costs are those inherent to the products (for example, SCPI have their own management fees built into the fund, and insurance contracts have annual fees charged by the insurer, but Homunity itself doesn’t add on). They make it very clear that investors pay nothing to Homunity directly. This transparent pricing is a strong point. The only “fee” investors ultimately pay is the tax on their earnings (for French residents, 30% flat tax on interest, which Homunity withholds at source), but that’s not a platform fee, it’s government tax. And even that can be reduced via the PEA-PME or certain conditions (e.g., non-residents as noted get gross payments). Homunity also occasionally offers promo bonuses (e.g., referral bonuses or new investor promotions) which are paid by Homunity or sponsors – again, at no cost to the investor.

Project Owner Fees: Homunity earns its revenue from the fees charged to real estate developers (fundraisers) who raise money on the platform. According to industry sources, Homunity charges roughly 5% of the funds raised as a success fee to the project sponsor. For example, if a developer raises €1,000,000, Homunity might take around €50,000 (plus applicable VAT) as its commission. This fee model is standard in real estate crowdfunding. It typically comprises a placement fee (around 3–5%) and sometimes a smaller annual monitoring fee. Homunity’s FAQ indicates that project fees are only taken if the funding is successful (no success, no fee). In addition, developers may pay a listing fee or due diligence fee upfront – but Homunity’s policy is not to burden investors with any of that. The fee arrangement is transparently communicated to developers, and investors know that their interest returns are calculated after these costs (i.e., the interest rate offered already factors in that the developer is paying Homunity’s commission).

Transparency: Homunity is quite transparent about its fee structure. On its website and investor materials, it explicitly states “0€ fees for investors”. The only place a user might encounter a charge is the note about the credit card deposit fee (which is clearly mentioned in the FAQ). When it comes to SCPI and life insurance, Homunity provides documentation of those products’ fees (for instance, an SCPI might have an entry fee baked into the share price – Homunity doesn’t add more, it just receives a broker commission from the SCPI management). The Homunity Vie insurance has specific fee details (e.g., ~0.6% management fee by the insurer, etc.), which are disclosed in the contract; Homunity as distributor likely gets a share of those standard fees but doesn’t charge extra on top. Overall, the pricing model is straightforward: investors’ cost = 0, developers’ cost = platform commission. This aligns incentives well – Homunity only makes money if projects get funded and succeed. It also means Homunity is incentivized to volume and quality of deals (to attract investors).

Competitive Fees: Compared to other platforms, Homunity’s fee approach is quite competitive. Some other alternative investment platforms might charge investors a signup fee or a percentage of profits – Homunity does not. Also, Homunity doesn’t do things like take a cut of interest payments or charge a performance fee. Investors receive the full interest as promised (flat 9% etc.), Homunity’s cut is only from the borrower side. The 5% from borrowers is in line with market norms and presumably covers Homunity’s operational costs and profit margin. One potential area of concern is whether Homunity’s developer fees might affect project viability – i.e., does a 5% fee make it harder for a developer to complete their project? In practice, this fee is part of the project’s financial plan (it’s cheaper capital than equity for the developer, since paying 5% to get say a 9% loan is still workable if their profit margin is decent). During the recent market difficulties, some have questioned if platforms should lower fees to help struggling projects, but Homunity’s fee is agreed upfront and hasn’t been cited as a cause of failures.

Overall transparency rating: Homunity publishes performance stats, has an “Informations Légales” page listing licenses and contacts, and clearly discloses how it earns money (from issuers, not investors). They are members of professional associations that require certain transparency standards. There have been some criticisms from users that Homunity hasn’t publicly updated its loss figures even when some projects seem effectively defaulted (for example, a Trustpilot reviewer alleged Homunity was “not showing losses in stats, which is illegal” and named some defaulting projects). Homunity’s stance is that until a project is officially written off (legal process finished), it counts as “in procedure” but not a loss. This is a transparency grey area – technically they have disclosed which projects are in procedure and the risk, but they still list 0% loss because recoveries are ongoing. Aside from this nuance, the platform’s fee and pricing transparency is strong and investor-friendly.

Negative Publicity and Concerns about Homunity ⚠️

Like many crowdfunding platforms, Homunity has faced criticism and negative publicity, especially as the real estate market has deteriorated. The primary complaints from investors center on project delays and communication. Since 2022, a “cascade of delays” has hit Homunity’s projects (and the wider sector). Investors on forums and review sites report that a large number of their loans have missed the target repayment date and been extended – sometimes multiple times. For example, one investor noted 34 projects invested (2023–2025) with only 5 repaid fully (only one on time, the rest late) and several others either partially repaid or still outstanding long past due. These delays are attributed to broader issues (Covid shutdowns, supply chain problems, inflation, and a slump in property sales), but they have caused frustration. On Trustpilot, Homunity has a poor customer rating ~2.2 out of 5 (based on 200+ reviews). Many 1-star reviews in 2023–2025 complain of long waits to get money back, and some express fear that they will never see their returns. Several accusations of “arnaque” (scam) appear, often out of anger when a project is severely delayed or a developer enters insolvency (e.g., an investor who funded a project in 2020 and by mid-2025 had no repayment vented that “it smells like a total loss – I no longer trust them”). It’s important to note that Homunity is a regulated platform and there is no evidence of fraud or Ponzi scheme – these issues stem from project failures, not the platform misappropriating funds. Even a frustrated commenter asking if it’s a scam was answered by the blogger: “No, but a lot of projects experiencing big difficulties, yes!”

Project Failures: Some specific project controversies have been highlighted. For instance, a review mentions “Gerland Plaza liquidation judiciaire” – a particular development that went into liquidation. The reviewer pointed out that Homunity had already financed five other projects with the same developer (Adamia) before launching Gerland Plaza. This implies Homunity may have been over-exposed to a single partner and possibly missed warning signs, raising questions about due diligence. When that developer failed, multiple Homunity loans were affected at once. There are also mentions of projects like AFC Promotion, HFI, etc. in reviews, claiming Homunity isn’t transparently marking them as losses yet. While the platform is following legal recovery processes, some investors feel in the dark about the likelihood of recovery, hence accusing Homunity of lack of transparency.

Communication Criticisms: Another recurring theme is that Homunity’s communications during delays have been unsatisfactory for some. Investors expected more frequent or candid updates when projects ran into trouble. Some say Homunity’s initial sales pitch downplayed risks, leaving them unprepared for these outcomes. The platform’s customer service, which proactively calls investors for new deals, has been viewed by a few as “too commercial” and not frank enough about the portfolio issues. That said, other investors have defended Homunity’s team, noting that they do send out regular newsletters about the market situation and organize conference calls for delayed projects (e.g., inviting investors to discuss solutions). Homunity has also publicly addressed the situation via its blog, explaining how the real estate crisis (war in Ukraine, inflation, etc.) has hurt projects and cautioning that some earlier loans may incur partial losses. It encourages investors to remain patient as new projects launched post-2023 have higher rates and presumably better risk pricing.

Trustpilot and Social Media: Homunity’s Trustpilot profile reflects a “Poor” rating overall. The summary generated on Trustpilot notes “significant concerns related to refunds and payments… issues regarding the company's ethics… some reviewers even sought third-party help to recover funds”. It suggests a “strong consensus of dissatisfaction” among reviewers recently. However, a few positive reviews exist too – these often come from investors who acknowledge the tough environment but believe Homunity is handling it as well as can be expected. For example, a 4-star review in Oct 2025 mentioned that recent negative opinions are from people unhappy with performance in last 2–3 years, but that Homunity is managing seriously and communicating regularly in a suffering sector. Homunity does reply to some negative reviews (about 43% of negative reviews got a response, according to Trustpilot), usually explaining the context or that they are working on recoveries. On forums like Reddit, threads titled “Crowdfunding immobilier: it’s going more and more badly” have featured Homunity, with users sharing experiences of multiple simultaneous defaults and urging caution or diversification. The consensus in the French investor community lately is that Homunity remains a serious player (not a scam), but the golden age of easy 9% returns has turned into a period of potential losses, and new investors should be aware of the heightened risk.

Regulatory or Legal Issues: Importantly, Homunity itself has not been implicated in any regulatory misconduct or sanctions. A search of AMF enforcement actions shows no sanction against Homunity – it is in good standing with its licenses. The French regulator AMF did issue general warnings in 2023 urging savers to be extremely cautious about investment offers touting high returns, including real estate crowdfundin. This was not targeting Homunity specifically, but clearly, the regulator is concerned about platforms in this sector given the market stress. Homunity being a prominent platform likely prompted extra scrutiny, but so far there’s no publicized action against it. One could imagine if Homunity had failed to follow rules (like not updating risk stats), the AMF could intervene, but instead Homunity appears to be complying by publishing required info (even if some think it sugar-coats the status by not calling something a “loss” yet).

Reputational Hit: The combined effect of these issues is that Homunity’s reputation among retail investors took a hit in 2023–2024. In early years, Homunity had glowing reviews (e.g., a Google rating of 4/5 as noted by one blog). Now, Trustpilot sits around 2.2/5 and even Homunity’s Google reviews are down to 4.0/5 (from 511 reviews) which is decent but not outstanding. Some French financial bloggers have specifically written “Should we still trust Homunity?” pieces. For instance, one independent review noted that Homunity’s Trustpilot score (around 2.6/5 at the time) is much lower than its Google score, with many users denouncing payment delays. Another blog “Investissements Faciles” pointed out increasing defaults and communication issues and warned that Homunity’s reputation could suffer long-term if the crisis leads to above-average losses. On the flip side, industry insiders still consider Homunity a reference platform due to its size and backing. It won’t likely disappear given Tikehau’s support, but it will have to work hard to restore investor confidence.

In summary, the red flags for investors are: a large proportion of delayed/defaulted projects, a wave of negative reviews citing lack of trust, and the reality that Homunity’s selling point of <1% default is being tested. These issues don’t mean Homunity is unsafe or acting improperly, but they do mean prospective investors should go in with eyes open. ⚠️ The combination of many projects in legal proceedings and vocal investor dissatisfaction is a serious concern. Homunity will need to navigate this by improving transparency, possibly tightening project criteria further, and weathering the storm until the real estate market recovers or bad loans are resolved. Potential investors should keep abreast of any updates from Homunity on defaults (e.g., if/when the first actual loss is declared, and how big). So far, no scandal or regulatory action has hit Homunity directly – the negativity is mostly from disappointed users – but that is noteworthy in itself for an investment meant to attract retail customers.

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Homunity Success Stories and Milestones 🎉

Despite recent challenges, Homunity has several notable success stories and achievements to its name:

• Rapid Growth & Market Leadership: Homunity grew from a tiny startup in 2015 to the French market leader in real estate crowdfunding by the mid-2020s. It consistently ranked at or near the top by volumes funded annually. By April 2025, Homunity announced it had collected nearly €800 million, financed 577 projects, and repaid €60 million in interest to investors since inception, cementing its leading position. This scale is a success in itself – few European platforms have reached those numbers in this sector. Homunity’s user base of over 100k and partnerships with big players (like Boursorama) also underscore its leadership. The co-founders were proud to note that what started as a niche concept in 2014 became an “established, recognized market” by 2019, with Homunity as a top brand driving over €2 billion industry-wide since (the platform is even integrated into mainstream banking channels now).

• Tikehau Capital Acquisition (2019): A major milestone was when Homunity was acquired by Tikehau Capital in January 2019. This was one of the first instances of a large asset manager buying a crowdfunding platform, and it validated Homunity’s model. The acquisition was covered in press as a sign of consolidation and maturity of the sector. With Tikehau’s backing, Homunity scaled up funding (it financed €24M in 2018 alone, +250% vs 2017) and could launch institutional products. The creation of the Tikehau Homunity Fund I & II in 2019 is a success story in itself: these funds (totaling ~€73M) provide co-financing to Homunity projects, meaning even large deals can be filled and retail investors invest alongside professional capital. This model of combining retail and institutional funding has been emulated by others, and it arguably improved Homunity’s project quality (developers know a reputable fund is also involved). Quentin Romet (Homunity’s CEO) highlighted that being part of Tikehau gave the platform “a solid shareholder” and helped it attract more and bigger developers to seek funding.

• Profitability and Expansion: Homunity achieved operational profitability relatively early (2017), a feat for a fintech startup relying on transaction volume. This meant it had a sustainable model, not just burning venture capital. The company expanded its offerings with new products – a key success being the diversification in 2020: Homunity added SCPI fund distribution and new-build property sales (lots neufs) to its platform. This pivot made Homunity more resilient and competitive, offering investors multiple ways to invest in real estate (not just development loans). It also likely added revenue streams (commissions from SCPI sales and insurance). Winning distribution agreements with 18 top SCPI funds by 2022 is a mark of credibility, as SCPI management firms wouldn’t partner unless Homunity had a good reputation. Homunity Vie, launched in late 2021, is another milestone – partnering with Suravenir (Crédit Mutuel Arkéa) to package a life insurance product was ambitious and shows Homunity’s brand had clout beyond pure crowdfunding.

• Boursorama Partnership (2022): In May 2022, Homunity struck an exclusive partnership with Boursorama Banque, which is a huge success in terms of mainstream acceptance. Boursorama (now known as BoursoBank) integrated Homunity’s projects into its banking platform, allowing tens of thousands of Boursorama clients to invest seamlessly. Even more groundbreaking, in early 2023 this partnership enabled crowdfunding investments to be held within a PEA-PME – something never done before in France. This innovation means Homunity projects can benefit from the tax shield of a stock savings plan if held for 5+ years (interest effectively tax-free except social charges). For Homunity, being the first crowdfunding platform accessible via a PEA-PME and doing it with France’s #1 online bank is a major accolade. The press release in April 2025 highlighted this as a “first in France” and reinforced Homunity’s image as an innovator and leader. It likely contributed to a surge of new investors who trust big banks more than standalone fintechs.

• Successful Exits & Returns: While we hear more about delays, Homunity also had plenty of successful project exits. Over 328 projects have fully repaid investors as of late 2025. Many delivered the promised returns without issue. For example, numerous deals in 2018–2020 finished on time with ~9% yields (these are less publicized because good news is expected). Some projects even repaid early (developers refinancing or finishing ahead of schedule), which boosted investors’ effective yields. Homunity’s site mentions record-fast funding rounds (a project that raised €850k in under 1 minute) – this indicates strong investor appetite and could be touted as a success. Additionally, Homunity has won recognition in the form of industry awards: it has often been ranked in top platform lists by finance media and was a founding member of the French Crowdfunding Association. In 2021, during the boom, Homunity was frequently cited in Les Echos, La Tribune, etc., as a leader in the booming crowdfunding market. Being covered positively by major newspapers (which Homunity highlights on its site with logos of Le Monde, Les Echos, etc.) is part of its success narrative.

• Customer Successes: On Homunity’s site, they share testimonials of happy investors who have built a portfolio of 10+ projects and praise the platform’s service. For instance, an investor named Emmanuel (investing since 2020) gave 5 stars and noted the platform’s ease of use and good communication (like being invited to conf-calls). These success stories illustrate that many users did have positive experiences and met their goals of high returns. Homunity often uses such testimonials to balance the narrative, showing that if you diversify and stay patient, the platform can be a “solid alternative to traditional investments” as one reviewer put it.

In summary, Homunity’s key milestones include: founding in 2014; rapid growth to profitability by 2017; acquisition by Tikehau in 2019; launching new products in 2020 (SCPI, etc.); partnering with a major bank in 2022; surpassing €800M funded by 2025; and maintaining a top position in the market. While current challenges are noted, these successes underscore Homunity’s prominence. It helped transform real estate crowdfunding from a niche idea into an established investment category in France, even if the story is ongoing with some bumps ahead. Quentin Romet has stated the ambition for Homunity to become “the reference leader for 100% online real estate investment”, enabling anyone to build a diversified property portfolio digitally – the milestones achieved so far put it well on that path, assuming it navigates the crises.

Is Homunity safe and regulated?

Yes, Homunity is a legitimate regulated platform. It’s authorized in France by the AMF (Autorité des Marchés Financiers) as a Crowdfunding Service Provider (PSFP) since 2023. It also holds a financial advisor license (CIF) and is registered with ORIAS, which means it adheres to strict regulatory standards. Being regulated entails investor protections like segregated accounts and oversight. That said, “safe” doesn’t mean risk-free – you are exposed to project risk. Homunity itself is not a scam; it’s backed by Tikehau Capital, a large asset manager, adding to its credibility. The platform has been operating since 2014 with thousands of investors. The main safety concerns come from project defaults, not the platform’s integrity. In terms of platform failure, even if Homunity were to go bankrupt, your investments are contracts with the project companies and a third-party would take over administration so you could still potentially get repaid. Always ensure you use the official Homunity site and never send money outside the prescribed methods. Overall, Homunity is as safe as a real estate crowdfunding platform can be from a regulatory standpoint, but you must still exercise caution with the investments themselves.

What returns can I expect on Homunity?

2. What returns can I expect on Homunity?
Investors can expect high potential returns compared to traditional savings, but with variability. Homunity’s crowdfunding loans typically offer around 8% to 10% annual interest. The average advertised yield in recent years is ~9% gross per year. For example, if you invest €5,000 in a project at 9% for 18 months, you’d expect roughly €675 interest (before tax) if it pays on time. Some projects may offer up to ~11–12% for higher risk deals, while a few lower-risk ones might be ~7–8%. Important: These returns are not guaranteed – they are target rates assuming the developer successfully pays back. If a project is delayed, you might get interest later than expected (most loans accrue interest over the extended period, but your IRR drops if time extends without extra interest). If a project defaulted, you could receive less interest (or none, in worst case of total loss). Homunity’s track record until 2021 showed most projects meeting their target returns, but in 2022–2023 many have been delayed. The actual realized returns after factoring in some delays have been lower – Homunity reported about 6.3% net IRR overall since 2016. New investors should maybe expect ~5–9% net depending on how the ongoing projects resolve (optimistically, if things normalize, around 8–9%; pessimistically, if some defaults happen, overall returns could be mid-single-digit). By comparison, Homunity also offers SCPI funds (those yield ~4–5% annually in dividends) and the Homunity Vie insurance (which might target 3–6% depending on portfolio). But the flagship crowdfunding loans are around 9–10% gross. In summary: advertised returns ~9% but actual outcomes can vary; many investors have indeed earned ~8–10% on successful projects, while others facing delays might end up with a bit less. There is no interest guarantee fund, so outcomes hinge on project success.

What are the main risks of investing with Homunity?

The main risks are those inherent to real estate development and alternative investing:

• Risk of capital loss (default): The biggest risk is that a developer cannot repay the loan, leading to a partial or total loss of your invested capital. If the project fails (e.g., bankruptcy), you are an unsecured creditor (though sometimes with a mortgage). In best case, the land/building is sold and you recover part of your money; worst case, nothing is recovered. While Homunity has not yet had a complete loss, many projects are on the brink (in insolvency proceedings), so this risk is real.

• Illiquidity risk: Your money is locked in for the duration, and if you need it, you can’t get it out early. There is no secondary market, so you must be able to do without the invested funds for potentially several years. This also means if you change your mind, it’s too late once funds are committed.

• Project delay risk: Extremely common – projects can be delayed due to construction issues, permitting, sales slowdowns, etc. Delays mean you get your money (and interest) later than expected, and sometimes interest is not paid for the extra delay period (loans often continue accruing interest during extension, but your IRR drops). Many Homunity projects have been delayed 6–12+ months beyond term. This is a risk to your liquidity and can erode returns (time value of money).

• Economic risk: These investments are sensitive to the real estate market. If property prices fall or the economy worsens, developers may struggle to sell units and repay. We’ve seen how inflation and rate rises squeezed developers – those macro factors can hurt your investments. In a downturn, defaults can spike (which seems to be happening in 2023).

• Platform risk: Though regulated, there is a small risk that Homunity as a company could fail (though lessened by Tikehau’s backing). Even if it did, your contracts remain valid, but the situation could be messy administratively for a while. It’s not a primary risk right now, but one to acknowledge (choose platforms that are stable – Homunity is among the more solid ones in this regard).

• Legal/Regulatory changes: If laws change (for instance, if the government changed tax treatment or imposed new rules), it could affect future returns or processes. The EU crowdfunding regulation has standardized things, so this risk is low now, but always possible.

• Opportunity cost risk: Because money is tied up, you face the risk that you miss other opportunities. Also, if inflation is high and your project is delayed without extra interest, your real return could diminish.

To mitigate these risks: diversify (spread across many projects, and ideally across multiple platforms or asset classes), due diligence (read the project info, prefer those with strong guarantees or developers with a good track record), and invest only what you can afford to lose. Homunity itself recommends diversification and reminds that returns are not guaranteed and capital is at risk. In summary, the main risks are losing money or having it tied up for long periods. The high returns are the reward for taking on these risks. Each investor should carefully weigh if the ~9% returns sufficiently compensate for the possibility of default – and size their investment accordingly. Homunity provides information and some safeguards, but it cannot eliminate these fundamental risks.