Tudigo AI Overview on 09/2025

Overview of Tudigo 🚀

Tudigo is a French crowdfunding platform enabling individuals to invest in unlisted companies (private SMEs and startups) with a focus on impactful projects. It operates as an investment marketplace for equity and debt offerings, making private equity accessible from as little as €500 minimum investment.

Investors on Tudigo can back local businesses, startups, or real estate ventures and potentially benefit from tax incentives (certain investments qualify for income tax reductions).

Key advantages include a low entry threshold, a diverse deal flow (tech startups, sustainable enterprises, real estate, etc.), and an engaged community with dedicated support (Tudigo provides detailed project data and responsive investment advisors).

However, there are major risks: investments are illiquid (funds are typically locked for years), highly risky (startups can fail, leading to total loss of capital), and some projects may encounter delays or defaults on repayments.

Tudigo is fully regulated by French financial authorities as a crowdfunding service provider, adding a layer of oversight, but this does not eliminate the inherent investment risks.

✅ In summary: Tudigo’s model offers retail investors a chance to “invest like a VC” in French SMEs and startups, combining accessibility and impact with the high return potential and high risks typical of alternative investments.

Tudigo’s Investment Products and Model 💼

Investment Offerings: Tudigo facilitates investments in equity (shares) and debt (bonds or convertible bonds) of private companies.
Equity investments mean buying a stake in a startup/SME, aiming for a profitable exit in the future (e.g. if the company is acquired or goes public). Returns on equity are unpredictable – Tudigo projects often target a 3–7 year horizon for potential exits, with investors hoping to multiply their investment (expected outcomes range from ~2× to 7× return in successful cases).
Bond investments on Tudigo are essentially loans to the company: they have a defined term (usually 12–36 months) and pay regular interest, typically in the 5–12% annual range. These bonds may be secured with collateral or guarantees when possible, and Tudigo negotiates terms so that many carry interest around ~10% per year for the added risk.

How It Works: Each funded project on Tudigo is structured via a dedicated SPV (special purpose vehicle). When you invest, you actually become a shareholder of an SPV that pools all investors’ funds and in turn holds the equity or debt in the target business. This structure streamlines management (e.g. one entity represents all crowd investors) but can introduce two layers of taxation on equity gains (at the SPV and then at investor level).
Projects listed are predominantly French companies – Tudigo focuses on France-based SMEs and startups (often with an environmental or social impact mission).
Typical fundraising sizes range from €200,000 up to €5,000,000 (the legal cap per EU crowdfunding offering). For investors, the minimum ticket is commonly around €1,000 (though some opportunities have accepted €500), and the maximum can go into tens or hundreds of thousands (subject to regulatory limits and project needs).

Sector & Strategy: Tudigo’s investment thesis emphasizes companies with growth potential and positive impact. It presents a broad range of sectors – e.g. innovative startups (fintech, greentech, foodtech, etc.), established SMEs seeking expansion capital, real estate development or renewable energy projects, and other “projets à impact” that resonate with its community.
Each project undergoes thorough vetting: Tudigo claims only about 1% of applicants pass its selection filters. Even so, investors must remember that major risk points remain: companies might default or go bankrupt (equity holders can lose their entire investment), bonds can miss payments or default (leading to loss of interest and principal), and the investments are illiquid (no easy resale market, so funds are tied up until a liquidity event).
Tudigo’s model offers potentially high returns (especially if a startup grows significantly), but it is fundamentally a high-risk, high-reward proposition in the alternative investment category.

Tudigo Company Background & Regulation 🏢

Founding and Ownership: Tudigo’s journey began in 2012 under the name Bulb in Town, founded by Alexandre Laing and Stéphane Vromman – two ESCP Europe alumni who wanted to finance local businesses through community investment. A third co-founder, Alice Lauriot dit Prévost, joined shortly after to lead marketing (coming from L’Oréal). In 2017, Bulb in Town rebranded to Tudigo, signaling a shift from pure donation crowdfunding to a stronger focus on equity crowdfunding. The company’s headquarters moved to Bordeaux, France (while maintaining a presence in Paris).
Tudigo is organized as a SAS (Société par Actions Simplifiée) under the legal name “SAS Bulb in Town”, registered in Bordeaux with RCS number 788 438 406. The founders remain key shareholders, and over the years Tudigo has brought on additional investors: for example, fintech entrepreneur Damien Guermonprez and incubators like ESCP Blue Factory and Paris&Co have been involved in funding rounds. In early 2023, Tudigo even raised €3 million from its own user base and angels (700+ investors) to finance its growth, valuing the company around €40 million. This community fundraising means many Tudigo users are also shareholders of the platform itself.

Leadership and Team: Tudigo’s leadership is still led by its co-founders – Alexandre Laing serves as CEO (Directeur Général) and Stéphane Vromman as President overseeing strategy. They are supported by a team of ~30–40 professionals (as of recent years), including in-house financial analysts, an investment committee, and chargés d’investissement who liaise with investors. Notably, in 2022 Tudigo undertook internal restructuring to sharpen its focus on investment crowdfunding; it exited the rewards-based model entirely and built up its due diligence and compliance capabilities.
Tudigo has also formed strategic partnerships – it works with 50+ venture capital funds and family offices that co-invest in its deals or refer projects. It has a network of wealth management advisors (Conseillers en Gestion de Patrimoine) who use Tudigo to offer private deals to their clients. On the public side, Tudigo is a member of the industry association Financement Participatif France (FPF) and collaborates with Bpifrance (the French public investment bank) – for instance, Tudigo was selected for Bpifrance’s “Europe’s Deeptech 50” program to fund deep-tech startups. These connections underscore the company’s credibility in the French fintech ecosystem.

Regulation and Licenses: Tudigo is fully regulated under French and EU crowdfunding laws. Initially operating as a Conseiller en Investissements Participatifs (CIP) and Intermédiaire en Financement Participatif (IFP) in France, Tudigo transitioned to the new EU regime in 2023. In April 2023, it received authorization as a Prestataire de Services de Financement Participatif (PSFP) (the French term for EU Crowdfunding Service Provider) from the Autorité des Marchés Financiers (AMF). Its license number is FP-2023-39.
This license allows Tudigo to operate cross-border in the EU under harmonized rules, and it certifies that Tudigo meets capital, conduct, and disclosure requirements. The platform must, for example, provide standardized Key Investment Information Sheets (KIIS/FICI) for each offering and adhere to limits (e.g. €5M per project over 12 months). The AMF oversight also means Tudigo must segregate client funds (handled via a payment partner, usually Lemon Way) and follow strict anti-fraud and compliance procedures. Importantly, regulatory approval is about investor protection and fair conduct, but it does not guarantee the success of investments – Tudigo itself reminds users that even though it’s regulated, investing in “titres non cotés” carries significant risk.
In summary, Tudigo operates legally and transparently under French law, with supervision by the AMF and the ACPR (for payment services via its wallet). There have been no known regulatory sanctions against Tudigo; on the contrary, obtaining the PSFP license was a positive milestone, positioning Tudigo among the first French platforms fully compliant with the new EU crowdfunding regulation in 2023.

Tudigo Volumes and Performance 📈

Growth and Scale: Tudigo’s activity has grown substantially in recent years, making it one of France’s leading equity crowdfunding platforms. By the end of 2023, Tudigo reported a cumulative €250 million in funds raised for private projects since 2018. This funded over 272 companies in that 5-year period. The pace has accelerated: 118 projects were financed in 2023 alone, more than double the 51 projects in 2022. This suggests a rapidly expanding deal flow and investor base. Indeed, Tudigo’s investor community has grown to over 41,000 registered users (as of early 2023), many of whom are repeat investors. Such scale puts Tudigo in direct competition with other major French crowdfunding players and highlights its popularity among retail investors looking for alternative investments.

Financial Results: Tudigo has also achieved strong financial results as a company. In 2022, it generated €4.2 million in revenue, deriving income from fees on the growing volume of deals. Unusually for a fintech startup, Tudigo became profitable, posting a seven-figure net profit in 2022. This profitability is partly due to its fee structure (upfront fees and success commissions) and disciplined cost management. The company aimed to double its revenue in 2023, and early indications (given the jump in funding volumes in 2023) suggest it likely increased revenues significantly. Tudigo’s ability to be in the black while scaling is a positive sign of sustainability (especially as some competitors operate at a loss). It’s worth noting the platform raised additional growth capital (the €3M community round in 2023) to invest in expansion and product development, which implies confidence in its future performance.

Investor Returns: Actual investment returns on Tudigo vary by project and are not uniformly disclosed. Tudigo does not publish a comprehensive performance track record on its public site – a point criticized by independent reviewers. However, general expectations can be outlined: Bond investments on Tudigo have offered interest rates typically around 6–10% gross per annum, and many have repaid on schedule (with some notable exceptions discussed below). Equity investments are higher variance – investors aim for high multiples (Tudigo often cites a potential 8–12%+ annual return equivalent in successful cases), but these are theoretical since equity outcomes depend on a successful exit. A few equity-funded startups have scaled nicely (investors only realize gains when those companies have buyouts or IPOs).

Defaults and Risks: It’s important to highlight performance in terms of defaults/losses, which significantly affect net results. According to data reported in a 2025 independent analysis, Tudigo’s default rates have risen in recent years. For bond offerings, the annual default (loss) rate was 0% in 2021, then 1% in 2022, and jumped to 11% in 2023 (meaning 11% of outstanding bond deals that year resulted in loss). For equity deals, Tudigo reported about 1–2% of companies funded per year ending in total loss (e.g. bankruptcy) – roughly 2% in 2022 and 2% in 2023. (It’s worth noting that 2023’s figures reflect a tougher economic climate and some high-profile failures.) Furthermore, earlier internal figures (not publicly shown by Tudigo but obtained by analysts) suggest a few more defaults in prior years as well. These loss rates are higher than some competing platforms; for example, some real-estate crowdfunding sites have near 0% loss historically. The fact that Tudigo has permanent losses each year is a concern flagged by experts – it underscores that a portion of investments do go bad. On a positive note, the majority of projects have not defaulted; many are still active or in progress, and some have delivered returns. But investors should factor in these odds: a Tudigo portfolio might have, say, 1 out of 10 startups fail completely (equity = 0), while others might succeed and compensate.

Notable Metrics: As a snapshot, by early 2024 Tudigo’s average raise per project was around €750k (in 2022) and likely higher in 2023 given some larger rounds. The largest single crowdfunding raise on Tudigo to date is €3.4M (Brique House, 2024). The average investment per investor often ranges in the low thousands; for instance, during Tudigo’s own 2023 funding round, the average ticket was ~€4,300, and in many campaigns (like Helios neobank) the average contribution was around €2k (with 1,200 investors for €2.39M). The platform’s Trustpilot rating (an indicator of user satisfaction) stands around 4.2 out of 5 (based on ~2,100 reviews as of mid-2025) – this suggests generally positive user experiences, though some negatives are discussed later.

Conclusion: Tudigo has achieved significant volume (over €250M funded) and demonstrated an ability to scale, but investors’ actual outcomes will depend on careful project selection, as returns are very project-specific and some losses have materialized. The lack of public aggregated performance data means investors must rely on individual project info and their own diversification to gauge likely returns.

Tudigo’s Risk Management Approach ⚠️

Project Selection: Tudigo emphasizes a stringent vetting process to protect investors. According to the platform, out of all businesses that apply to raise funds, only ~1% are ultimately approved for listing. The evaluation involves multiple stages: an initial screening by Tudigo’s analysts, a deep dive into the business plan, and then a formal Investment Committee review. Projects must align with Tudigo’s investment thesis – meaning the company should be a viable, growth-oriented French SME/startup often with a sustainable or innovative angle. Furthermore, each candidate is subjected to due diligence audits: Tudigo’s team (and sometimes third-party experts) conduct financial analysis (examining accounts, forecasts, unit economics) and legal checks (company registration, any liens or litigation, management background). They also require documentation like business plans, pitch decks, and often interviews with the founders. Only if a project passes these hurdles (including final committee sign-off) will it be “greenlit” to launch a campaign on the platform. This rigorous filtering is meant to ensure that only solid opportunities with a balance of potential and risk are presented. As a result, Tudigo highlights that many of its projects have a meaningful mission or solid fundamentals, and the platform proudly markets that it “invests in 1 out of 100 projects” as a mark of quality control.

Risk Scoring and Due Diligence: For each approved project, Tudigo prepares an “Investment Note” or rating that is shared with investors. This includes a risk assessment and often a score on a five-point scale to indicate risk level. For example, one project was rated 1.8/5 on risk (medium risk) by Tudigo. The analyst’s note covers key points: company strengths, market analysis, financial projections, and identified risks (such as market competition, regulatory issues, etc.). Tudigo also employs external due diligence in some cases; their materials mention external audits (financial or legal) for additional assurance. For bond deals, Tudigo negotiates safeguards: they aim to secure collateral or guarantees (like a lien on assets or personal guarantee from founders) to back the loan. These terms are clearly stated in the contract if present. For equity deals, they structure via the SPV and typically a shareholders’ agreement that includes provisions to protect minority investors (e.g. tag-along rights, information rights). It’s notable that Tudigo’s process includes verifying management background – for example, checking criminal records for founders – and analyzing bank statements to vet financial health. The risk approach is thus multi-layered: strict selection, thorough due diligence, structured investment vehicles, and transparency of risk factors to investors.

Monitoring and Post-Investment: After a successful fundraising, Tudigo continues to play a role in monitoring. They require companies to provide regular updates (at least quarterly or semi-annually). Tudigo’s platform facilitates posting of quarterly reports and news from the funded company to all investors. They also organize Annual General Meetings (AGMs) for equity investors via the platform or in-person – investors either attend or vote by proxy on major decisions. Bond investors receive payment schedules and are notified of any delays or restructuring. Tudigo’s team (the chargés d’investissement) serve as a liaison; they sometimes sit in on board meetings of the funded startups in an observer capacity, or at minimum stay in close contact to catch early warning signs of trouble. The platform also has procedures for when things go wrong: if a company faces difficulty, Tudigo may coordinate with investors on actions like debt restructuring or recovery. For instance, if a bond issuer defaults, Tudigo might engage lawyers or negotiate a debt rescheduling plan to attempt recovery. They set aside a portion of investor funds (2% in the SPV) to cover legal actions if needed.

Limitations and Challenges: Despite these efforts, risk remains high and Tudigo’s approach has shown some cracks in extreme cases. A prominent example was AL Constructions, a project funded on Tudigo in 2024 which defaulted on its very first bond payment. Post-mortem analysis revealed that fraudulent documents had been provided by the company: the founder’s criminal record certificate was fake (hiding a namesake’s conviction) and bank statements were forged to inflate their financial standing. Tudigo’s compliance team did request these documents, but the forgeries went undetected, and the platform had even advertised that investment as “medium risk” with supposed guarantees. It turned out no collateral was effectively put in place (papers were unsigned), leaving investors unprotected. This incident highlighted a due diligence lapse – Tudigo was “blindsided” by a determined fraudster, raising questions about whether their internal processes needed strengthening (e.g. manual verification of documents flagged by algorithms). Tudigo’s president downplayed it as malicious rumors, but the facts showed a failure in risk controls.

Additionally, as the volume of projects grows, maintaining rigorous oversight is challenging. Some investors have noted inconsistencies: a few companies that Tudigo funded were in bad financial shape shortly after funding, suggesting that perhaps optimism or pressure to list deals occasionally overrode caution. Reviewers mention “selection perfectible” – implying the project filtering, while serious, is not infallible.

Conclusion: Tudigo’s risk management is comprehensive on paper – only a tiny fraction of deals pass their filters, and multiple safeguards (audits, ratings, legal structures) are employed. This likely contributes to the platform’s overall success rate. However, investors must remain vigilant. Even with Tudigo’s 1% acceptance rate, investing in startups and small businesses carries a “🎲” element of chance, and no amount of due diligence can eliminate all risk. Tudigo itself advises diversification and clearly warns that capital loss and delays are possible on every project. The platform’s approach is to mitigate risk as much as feasible, but at the end of the day, those using Tudigo should do their own homework on each deal and not rely solely on Tudigo’s vetting.

Tudigo Platform Features & Tools ⚙️

Investor Dashboard and Tools: Tudigo provides a user-friendly online platform (website and mobile-responsive) where investors can browse opportunities, review details, and manage their portfolios. The investor dashboard shows all the projects you’ve invested in, along with the amount invested, the percentage of the fundraising goal reached, and ongoing updates. Investors receive regular project updates through the platform – companies post news, financial reports, or development milestones which are accessible in your account feed. A useful feature is Tudigo’s project comparison tool (referred to as “comparateur” on the site), which allows you to compare multiple investment opportunities side by side. This tool highlights key metrics (sector, funding stage, risk rating, target returns) so you can make an “éclairé” (informed) choice. Additionally, Tudigo provides each investor with the company’s Investment Memorandum/KIIS, financial statements, and an investment note (analyst report) for due diligence. All documents are available for download on the platform.

Advisory Support: Tudigo differentiates itself by offering personalized support to investors. The platform has “Chargés d’investissement” – essentially investment advisors – that investors (especially new ones or those investing larger sums) can speak with. You can book a call or meeting to discuss project details, ask questions about how it works, or seek guidance. This human touch is often highlighted in user reviews as a plus: investors appreciate that experts like Simon or Carl from Tudigo’s team are responsive and can clarify doubts. There’s also an extensive FAQ/Help Center on the site (covering everything from account creation to tax reporting), which shows Tudigo’s commitment to investor education. In terms of educational content, Tudigo’s “Ressources” section includes articles and guides about private investing, risks, diversification, etc., to help investors build knowledge.

Auto-Invest and Secondary Market: Unlike some peer-to-peer lending platforms, Tudigo does not offer an auto-invest feature where the platform allocates funds for you automatically. Given the nature of equity deals (each is unique and requires investor evaluation), Tudigo expects investors to manually select the opportunities they want. Similarly, there is no public secondary market on Tudigo – i.e., you cannot freely trade your investments with other users through the platform’s interface. However, Tudigo does facilitate a private secondary process: if an investor finds an outside buyer for their securities (or if the company itself arranges a buyback), Tudigo will assist in executing the transfer. For example, in the help center: “J'ai trouvé un acquéreur pour mes parts, que faire ?” – it outlines steps for selling your shares privately, which involves notifying Tudigo to handle the paperwork with the SPV and company. This is not a frequent occurrence but gives an avenue (albeit illiquid) for early exit if needed.

Diversification and Clubs: Tudigo encourages diversification on the platform. There’s a feature to follow certain themes or “Cercles” of investment. In 2023, Tudigo launched “Clubs Tudigo”, which are essentially curated investment pools where accredited investors or groups can co-invest alongside business angels in select deals. This allows smaller investors to join rounds led by experienced angels or funds. The platform interface has filters by industry, impact, and new vs. closing soon, to help investors diversify across sectors and maturities. While not exactly a robo-advisor, Tudigo’s team might nudge investors towards diversification (e.g., through articles or advisor calls stressing not to put too much in one deal).

Reporting and Analytics: For each investment, Tudigo provides ongoing performance tracking. Equity investments will show any changes (e.g., if the company raises another round, sometimes they update valuation info or share price if available). Bond investments have a payment schedule tracker showing interest and principal repayments due. The platform sends email notifications when a payment is made or if it’s late. Tudigo also aggregates an annual statement for investors, useful for tax purposes, listing any interest or dividends received and any exits. Supported currencies on Tudigo are primarily Euro (€) – investments are made in EUR and companies raise in EUR. The platform’s language is mainly French, reflecting its focus on French investors; however, some portions (like the help center) have English translations, and an English-speaking investor could navigate with assistance. As Tudigo obtained the EU passport, it may in the future offer more multilingual support, but currently communications (contracts, updates) are in French.

Security and Technical Features: Tudigo uses a secure web interface (HTTPS) and partners with Lemon Way (a licensed payment institution) for handling investor funds and escrow. Each investor has to go through KYC (Know Your Customer) identity verification on the platform, and payments can be made via bank transfer or online payment into the escrow for a given campaign. The platform also has two-factor authentication for logging in and making investments, adding a layer of account security. On the whole, Tudigo’s platform is modern and feature-rich, combining ease of use (simple online subscription process) with some advanced tools (comparison, downloadable reports) and human support. It lacks a few features some investors might desire (like instant liquidity or auto-diversification), but it aligns with the nature of equity crowdfunding, where investor engagement and due diligence are key.

Tudigo Fees & Pricing Structure 💰

Fees for Investors: Investing via Tudigo comes with a fee structure akin to a venture fund, which is important for investors to understand as it affects net returns. While sign-up and browsing the platform are free, Tudigo charges fees when you actually invest. Upon a successful investment (in equity deals in particular), an entry fee (“frais de souscription”) is charged to the investor. This is a sliding percentage based on your amount: for most retail investors it’s 5% of the invested amount (for investments under €25k), scaling down for larger tickets (4% for €25k–50k, 3% for €50k–100k, etc.). For example, if you invest €1,000 in a project, a €50 fee goes to Tudigo. This fee is usually deducted from your investment (meaning €1,000 outlay results in €950 actually going into the project and €50 as fees).

In addition, Tudigo imposes ongoing management fees on investors’ holdings to cover the costs of running the SPV and monitoring the investment. Rather than bill annually, Tudigo provisions 5 years’ worth of management fees upfront. Specifically, it withholds 1% of the investment per year for 5 years (total 5%) at the time of investment. If the investment lasts less than 5 years (say the company exits in 3 years), Tudigo will refund the unused portion of those fees to the investor. If it goes longer, Tudigo does not charge extra beyond the 5-year provision (so 5% is effectively the cap for management fees per investment).

Another element is a reserve for potential costs: 2% of the investment is set aside in the SPV’s account as “frais de fonctionnement”. This isn’t revenue for Tudigo per se, but a pool to pay any legal or expert expenses that might be needed to defend investors’ interests (for example, hiring a lawyer if the company defaults). If none of those costs arise, that 2% is returned to investors at the end (upon liquidation of the SPV).

Finally, Tudigo charges a performance fee (carry) on successful outcomes. This is similar to private equity funds’ carried interest. Tudigo takes 20% of the profits on an investment if the investment achieves more than a 1.2× net return (a 20% hurdle) for the investor. In other words, Tudigo only earns this carry if you make at least a 20% profit; beyond that point, Tudigo keeps 20% of any additional gains. For example, if you invested €1,000 and got back €5,000 at exit, the hurdle is 1.2× (€1,200), so Tudigo’s 20% carry applies on the €3,800 profit above €1,200, meaning Tudigo would take €760 and you receive €4,240. If an investment fails or has minimal gains, no carry is taken. This aligns Tudigo’s incentive with investors’ success to some extent (they only get this bonus if you profit). However, note that the entry and management fees are taken regardless of outcome, which means investors pay some fees even on investments that don’t perform.

Summing up typical investor costs: for a small investment, about 10–12% in upfront fees (entry + 5-year management + reserve) is deducted. If the project returns profitably, a 20% carry on gains applies. These are relatively high fees, reflecting the hands-on due diligence and admin Tudigo provides (they compare their service to that of a VC fund with reporting, etc.). It’s important for investors to factor this in: for instance, if a project aims to triple your money in 5 years (which is great), Tudigo’s fees will shave off part of that upside. Conversely, if a project fails, your loss is slightly cushioned only by the fact that a portion of fees reserved (like unused management or legal reserves) could be refunded, but the upfront entry fee would still have been paid. All fees and specific percentages are disclosed in the FICI (Key Information Document) for each project – Tudigo explicitly advises investors to review the fee section in that document for any variations, as some projects might have special fee arrangements.

Fees for Fundraisers (Project Owners): Tudigo’s business model also charges the companies raising funds. Initially, submitting an application is free. But once a project passes preliminary approval and signs a mandate (letter of engagement) with Tudigo, the company must pay “frais de dossier” (due diligence fees) equal to 5% of the minimum fundraising target. This is paid upfront before the campaign starts and covers Tudigo’s work on origination, valuation assistance, preparing the campaign, and conducting due diligence (financial analysis, legal checks, etc.). This fee is essentially an onboarding cost and is non-refundable (even if the campaign ultimately doesn’t reach its goal, this covers Tudigo’s initial effort).

If the fundraising is successful, Tudigo then earns a success commission from the company. This commission is 7% to 10% of the total funds raised. The exact percentage is negotiated case by case, often depending on the size and complexity of the raise (larger raises might get a slightly lower rate). According to Tudigo’s info, the typical range is around 7–10%, with ~8% being common in many deals. This success fee covers Tudigo’s ongoing services – marketing the campaign, payment processing, and post-raise support (investor relations, etc.).

Additionally, companies incur some fixed and variable costs post-raise: Tudigo retains about 1% of the raised amount on average to cover platform maintenance and investor relations for the life of the investment. And because an SPV is created, Tudigo charges the company €2,500 per year (plus VAT) for managing that vehicle (legal, accounting, filings). If the investment goes on, say, 5 years, that’s €12,500 in SPV admin costs over time. Companies may also need to pay their own legal fees to draft contracts, etc., but those are separate.

In total, a company raising on Tudigo can expect total fees roughly in the 12–15% of funds raised range (5% upfront + ~7–10% success) plus ongoing minor costs. This is a significant cost, but for many startups it’s worthwhile for access to capital and a community of investors. Tudigo’s fee structure is fairly transparent – it’s clearly outlined in the term sheet with the company and in the help center, and companies know that failing to reach the minimum goal means no success fee, though they lose the dossier fee (which incentivizes them to set realistic targets). Also, unlike a VC, Tudigo does not take board seats or salary, etc.; its compensation is purely these fees and carry.

Transparency of Pricing: Tudigo is upfront about both investor and issuer fees in its documentation. The platform’s FAQ explicitly lists “Quels sont les frais à la charge du porteur de projet ?” and “... à la charge des investisseurs ?”. They highlight that investor fees may vary by project and that investors should read the FICI document for each deal. This suggests that sometimes Tudigo might adjust fees (for example, maybe a lower entry fee for certain impact projects or first-time promotions, etc.). Generally, though, the structure described holds for most deals.

One potential conflict of interest to note is that Tudigo’s revenue (commissions) is largely earned at funding completion, not tied to long-term project success (aside from the carried interest). This means Tudigo earns money when a campaign closes, even if the business later struggles. Some analysts have pointed out this “désalignement d’intérêts” – the platform gets paid up front, while investors bear the ongoing risk. Tudigo’s introduction of carried interest helps address this by giving them a stake in upside outcomes as well. But investors should be aware that the fee model could impact net performance: any returns first go partially to make up for fees. Therefore, a project needs to perform quite well for investors to significantly profit after all fees (e.g., roughly speaking, an equity investment might need to >+12% just to break even with fees, though exact math depends on timeframe and outcome).

In summary, Tudigo’s pricing is comprehensive: companies pay for access to capital and support (with skin in the game via upfront fee), and investors pay for due diligence, administration, and hopefully quality deal flow. The costs are on the higher side in absolute terms, but align with the intensive nature of private equity investing (where 2% management and 20% carry is a standard model in venture capital). For a retail investor, it’s crucial to factor in these fees when calculating expected returns – for example, an 8% annual return project might effectively net lower after fees. Tudigo’s rationale is that these fees fund deep due diligence and ongoing management to improve investment outcomes. Investors should decide if this trade-off (higher fees for curated deals) is acceptable to them, and always read the fee section of each project’s info before investing.

Negative Publicity around Tudigo 🚨

While Tudigo has generally positive reviews, it has not been free from controversies and criticism, some of which could influence investor confidence. Here we outline several notable points of negative publicity:

1. Internal Governance Conflict (2024–2025)

In early 2025, news broke of a serious shareholder dispute within Tudigo’s leadership. French financial media reported that co-founders Alexandre Laing and Stéphane Vromman were “no longer aligned” and that “le torchon brûle entre les actionnaires” (the stakeholders are at odds). This internal crisis involved Tudigo’s major shareholders and a “poker game” of sorts in boardrooms. It was characterized as a governance crisis that threatened Tudigo’s strategic direction. Industry observers noted that in 2024 Tudigo had begun repositioning its business (perhaps exploring new markets or products) and this conflict put that in jeopardy. One detail mentioned was that a group of shareholders (possibly an investor group named SquareStones) even filed a legal complaint in late 2024, prompting mediation attempts.

While exact details are private (the full articles were behind paywalls), the existence of such a dispute is a red flag – prolonged infighting can distract management, slow down growth plans, or in worst cases, affect platform stability. As of mid-2025, it’s unclear if this has been fully resolved; investors considering Tudigo should keep an eye on news about its ownership and management stability. The company publicly has not commented in detail, but any retail investor should be aware that Tudigo’s founders had a rift that might influence how the platform evolves or how it’s run going forward.

2. Due Diligence Failures & Fraudulent Project (AL Constructions)

Perhaps the most damaging event in Tudigo’s reputation was the default of a project called AL Constructions in 2024. This company raised €1 million in bonds on Tudigo, promising solid returns, and Tudigo’s materials rated it a moderate risk (risk score ~1.8/5) with supposed collateral guarantees. Shockingly, within 5 months of funding, the company went into liquidation (bankrupt). Investors didn’t even receive the first interest payment (“défaut dès la première échéance”).

An exposé by a financial blogger revealed what went wrong: the founder had provided false documents to Tudigo during due diligence. Specifically, the criminal record extract was forged (the real one would have shown a conviction of someone with the same name), and bank account statements were fabricated to overstate cashflow. Tudigo’s compliance team did request these documents and even found the founder’s name matched a convicted individual, leading them to ask for a clean criminal record – which he provided, but it was a fake. They also relied on an automated analysis for bank statements which failed to flag obvious forgeries.

Moreover, Tudigo had announced to investors that the bond would be secured by pledges on shares of AL Constructions and a partner company (Palatin). However, those pledge documents were never signed, meaning in the end no guarantee existed. When AL Constructions collapsed, investors were left with no collateral and likely a near-total loss. Tudigo’s president, Stéphane Vromman, later minimized the situation, suggesting that internal hypotheses were being used maliciously against them.

But forum discussions show investors were upset about the lack of communication and due diligence lapses, with some calling Tudigo “a platform to avoid” after feeling “tricked”. This incident is a stark reminder that Tudigo’s processes, while strict, are not foolproof – a determined fraudulent actor managed to pass through. It was a blow to Tudigo’s credibility, drawing criticism in investor communities and raising questions about whether Tudigo needed to tighten verification (e.g., manually cross-checking documents). The company likely reviewed its procedures after this, but the event stands as a cautionary tale and is often brought up on forums as a reason to approach Tudigo deals with caution.

3. Conflict of Interest in Self-Funding

Another point of critique is Tudigo’s decision to raise capital for itself on its own platform. In January 2023, Tudigo ran a crowdfunding campaign to sell shares of Tudigo (SAS Bulb in Town) to its users, raising €3 million. While many community members eagerly invested (seeing it as supporting a platform they believe in), some industry watchers saw an ethical issue.

A French investment blog labeled it “un grave problème de conflit d’intérêt” that Tudigo allowed itself to fundraise on its platform. The concern is that Tudigo earned fees on this self-funding round and was effectively both seller and intermediary – promoting its own shares using its platform’s credibility, which could be seen as self-dealing. Normally, when a platform lists a company, it performs due diligence and maintains neutrality, but can a platform truly be neutral about itself? Additionally, if such a raise were to struggle, would Tudigo quietly prop it up to save face?

In Tudigo’s case, the round was successful and closed quickly, so no obvious harm occurred. Tudigo justified the move by saying it wanted to give its community the chance to own part of the platform and share in its growth. They also did this under the older CIP regime where certain regulations (like needing an independent provider for self-offerings) were perhaps less clear. Nonetheless, the perception of conflict lingers for some: it’s an uncommon practice that a platform lists itself. Potential investors might want to see that Tudigo has policies for any future such conflicts (e.g., third-party validation if they ever do it again). As of now, this hasn’t resulted in regulatory action, but it’s a piece of negative commentary in the French fintech blogosphere.

4. Communication and Transparency Issues

On user review sites and forums, a recurring criticism is lack of communication in negative scenarios. While many users praise Tudigo’s support when investing, some have reported that once a project faces trouble (delays, default), the communication becomes sparse. For instance, Trustpilot’s summary notes that some users experienced “delays in receiving payments and a lack of clear information regarding their investments”, with a few expressing disappointment in the follow-up when projects encounter difficulties.

On the argent-et-salaire crowdfunding forum, investors in troubled projects (like AL Constructions, and another project Tigliola) complained that Tudigo was not proactive in updates and that investors had to chase for answers. While Tudigo eventually provides information (e.g., posting notices of legal proceedings), during the interim the silence can be frustrating for investors.

Additionally, transparency of performance data has been called out. Unlike most platforms, Tudigo historically did not publish a detailed statistics page of its overall default rates, returns, etc. Reviewers like MoneyRadar view this as a “signal d’alerte” (warning sign), suggesting Tudigo is “clearly lacking transparency” by only showcasing select “success stories” instead of a neutral performance overview. It appears that some performance numbers (defaults from 2021–2024) became known only through digging, rather than Tudigo volunteering them.

This lack of readily available data is definitely a negative from an investor’s standpoint – it’s harder to judge the platform’s track record. The company may have been concerned that publishing a high default rate could scare off users, but withholding it can be interpreted as not being fully forthright.

5. Miscellaneous Critiques

Some investors mention the fee structure as a point of criticism, feeling that investor fees are high and that Tudigo “gets paid no matter what” (since it takes fees when funding closes, even if the project later fails). For example, one forum member noted Tudigo “prend des commissions XXL aux investisseurs” (takes XXL commissions from investors) which in their view misaligns interests. However, this is more a business model gripe than scandal – the fees are disclosed, just potentially off-putting.

Another anecdote: in mid-2023, a French blogger nicknamed Tudigo “la loterie nouvelle génération”, implying that investing there was akin to a lottery due to unpredictable outcomes. They argued Tudigo might not be suitable for 99% of investors given the risk. This kind of commentary underscores a skepticism in some quarters about high-risk crowdfunding in general, with Tudigo as a leading example.

Finally, it’s worth noting that the entire French crowdfunding sector experienced some high-profile failures around 2023–2024 (several real estate platforms collapsed, etc.). Tudigo itself is still standing strong, but as part of that context, negative sentiments around crowdfunding might spill onto Tudigo as well. For instance, references were made to October (a P2P lending platform) folding and others struggling; Tudigo was described as “À mi-chemin entre tous ces acteurs” (midway between all these players) – meaning it wasn’t as troubled as some, but not without issues.

Summary

The main red flags for investors considering Tudigo are:

• the governance tussle at the company (monitor if that resolves),

• the due diligence gap exposed by a fraudulent campaign (hopefully an isolated case, but very instructive),

• and the transparency gaps (the need to rely on external info for performance data).

None of these mean Tudigo is deceptive or unsafe, but they highlight that investors cannot be complacent. The platform is legitimate and regulated, yet these negatives remind us that crowdfunding carries unique risks – both at the project level (risk of fraud or failure) and at the platform level (execution of due diligence and internal stability).

A prudent investor will take these points into account: diversify investments, double-check information, and stay engaged. Tudigo, on its part, has continued operations and is taking steps (like obtaining the PSFP license and presumably strengthening compliance) which indicate it’s addressing issues. Still, these episodes are clearly and publicly documented, so we have highlighted them as they “could significantly affect investor decisions” if not properly understood.

Tudigo Success Stories & Milestones 🏆

Despite the risks, Tudigo has numerous success stories where the platform enabled transformative funding rounds and achieved key milestones:

Record Fundings: One standout example is Brique House, a craft brewery startup from Lille. In 2024, Tudigo facilitated an €3.4 million raise for Brique House in just 10 days. This was part of a larger €12M equity round co-led by Tudigo’s crowd and a venture fund (Pernod Ricard’s Convivialité Ventures). The Tudigo community’s contribution (3.4M) was a record-breaking amount in a short time for the platform. It demonstrated Tudigo’s ability to mobilize a large number of investors quickly – something that would have been unimaginable in traditional finance for an SME. This success also showed how crowd investors and institutional investors can co-invest via Tudigo, with notable figures like Philippe Houzé (Galeries Lafayette) and Nicolas Béraud (Betclic) investing alongside the crowd. The brewery used the funds to expand production and open new taprooms, embodying the local economic impact that Tudigo champions.

Another big success was Helios, an ethical neobank (green banking startup). In 2023, Helios raised €2.39 million from over 1,200 investors on Tudigo in just a few days. This was described as a record in terms of number of investors participating, reflecting huge public enthusiasm for Helios’s mission to make banking funds fossil-free. Helios was an “emblématique” project for Tudigo – aligning profit with purpose. The campaign’s momentum (fully subscribed in days) underscored Tudigo’s reach into a community passionate about impact investing. Helios’s case also illustrated how Tudigo can complement VC funding: it allowed a broad base of supporters to join a funding round that otherwise might have been closed to big investors only. Such community rounds can turn investors into brand ambassadors, amplifying the startup’s visibility (as Tudigo’s CEO Laing noted, crowd investors become valuable evangelists for the business).

Platform Growth Milestones: In terms of Tudigo’s corporate milestones, a significant one was 2018 – the year Tudigo (post-rebrand) fully pivoted to investment crowdfunding. Since 2018, the platform’s growth has been remarkable: over €250M raised, 270+ companies funded by early 2024. This places Tudigo among the top in France for volume in equity crowdfunding. Another milestone was achieving profitability (around 2021–2022) – many fintechs operate at a loss for years, so Tudigo hitting a 7-figure profit in 2022 is a testament to its efficient model. In 2022, Tudigo also expanded its product range by introducing obligations (bonds) and a real estate vertical, diversifying beyond pure equity. These expansions paid off, contributing to a sharp growth in 2023 (as seen by the funding volume jump).

Recognition and Awards: Tudigo frequently dubs itself the “leader de l’investissement non coté accessible à tous” in France. It has gained recognition as a leading platform for impactful private investing. For instance, Tudigo was selected by Bpifrance for the Deeptech 50 program – a vote of confidence from a national institution. Tudigo has also been featured in rankings of top crowdfunding platforms. In 2020, it received an award for its commitment to sustainable finance, highlighting its focus on projects with positive environmental/social impact (e.g., many green energy projects funded). Additionally, Tudigo’s rapid growth earned it media profiles; the Echos Judiciaires Girondins in 2024 interviewed CEO Laing in an article titled “le Tudigo nouveau” about the platform’s deep restructuring and future plans – indicating local business journals see Tudigo as a fintech success story from the Bordeaux region.

Community and Partnerships: Tudigo’s success is also measured by its community milestones. It aimed to rally “1 million éco-citoyens investing €1 billion” in its mission statement. While that’s aspirational, reaching 41,000 investors by 2023 is a step towards that vision. The fact that 700+ of those investors put money into Tudigo itself in 2023 shows the loyalty and belief of the community. On the partnership front, Tudigo’s collaboration with 50+ co-investing funds means startups raising on Tudigo often attract institutional capital too. This hybrid approach has led to bigger rounds and arguably better outcomes for companies (with experienced VCs on board alongside the crowd). Tudigo has thus positioned itself as a bridge between retail investors and the VC world, which is somewhat unique. The launch of “Clubs Tudigo” in early 2023 was another milestone: these clubs allow certain investors to invest in curated opportunities alongside notable business angels. The first club deals were launched in 2023 and were well-received.

Notable Exits: Because Tudigo’s big equity deals started around 2018–2019, some of those companies are now maturing. There have been a few exits or follow-on rounds as success stories. For example, a startup funded on Tudigo might later raise from a VC at a higher valuation, allowing Tudigo investors an opportunity to sell some shares at a profit (if a secondary was arranged). A known case: inHEART, a medtech startup that Tudigo helped fund, later raised money from a major VC; early Tudigo investors saw their shares appreciate (on paper at least) as valuation went up. Another small exit: a brewery funded via Tudigo was acquired by a larger beverage company in 2021, reportedly giving crowd investors a positive return (this was mentioned in Tudigo’s “nos performances” marketing materials, though exact figures weren’t public). These stories are occasionally highlighted by Tudigo to show that yes, exits happen.

Resilience: Finally, a success point is Tudigo’s resilience in a turbulent market. The years 2020–2021 (COVID period) saw many small businesses struggle. Tudigo actually leveraged that period to emphasize local investing and impact, which resonated with people wanting to help reboot the economy. It survived the pandemic dip and then thrived in 2022–2023. Also, amidst some competitors faltering (e.g., some real estate crowdfunding platforms going under in 2023), Tudigo not only stayed solvent but expanded, securing new license and funding. For retail investors, Tudigo’s continued operation and growth is reassuring – the platform itself appears financially healthy and scaling.

In summary, Tudigo’s success stories span both the platform’s impact on companies (record-breaking fundraises, enabling innovative businesses to grow) and the platform’s own achievements (user growth, profitability, industry leadership). Notable projects like Brique House 🍺 and Helios 🌱 showcase the power of crowd investing done right: delivering capital quickly to the right companies. Tudigo’s milestone of €250M raised (with ~118 projects funded in 2023 alone) marks it as a heavyweight in European crowdfunding. These successes are a strong counterbalance to the risks – they illustrate the potential upside of the model: investors can take part in funding the next big success and possibly reap significant rewards, while entrepreneurs get the fuel they need and a community of brand champions. As Tudigo continues, more success stories are likely to emerge, especially if some of the startups funded since 2018 start exiting with high multiples, turning early Tudigo backers into big winners.

Is Tudigo a safe and legit platform?

Tudigo is a legitimate, regulated platform. It’s authorized in France as a PSFP (Prestataire de Services de Financement Participatif) under the AMF license number FP-2023-39. This means it meets regulatory standards and is supervised by the Autorité des Marchés Financiers. In terms of platform security, Tudigo uses segregated client accounts (via Lemon Way) and complies with EU crowdfunding rules. However, “safe” does not mean risk-free – while the platform itself is trustworthy (not a scam), the investments you make carry a high risk of loss. Even Tudigo emphasizes that regulation doesn’t protect you from losing money on a bad investment. So, you can trust Tudigo as an intermediary, but you must evaluate each project’s safety on its own merits. There is no deposit guarantee or capital protection on the investments you make.

What returns can I expect on Tudigo investments?

Returns vary by the type of investment:

• For startup/PME equity investments, there’s no fixed interest – you are looking for capital gains. If the company does well, you might multiply your investment (Tudigo cites potential returns equivalent to ~8–12% annual or more in successful cases). For example, if a startup grows and gets acquired, you could see 2x, 3x or more on your money (which might correspond to 20%+ annualized if it happens in a few years). But these outcomes are uncertain; many startups fail or stagnate, in which case your return could be zero. So equity returns range from -100% (total loss) to several hundred percent, with a lot of middle cases. It’s truly variable and long-term.

• For bonds/loans, the returns are more defined: typically 5% to 10% annual interest is offered. According to observed data, 6–9% is common for SME bonds and 8–10% for real estate projects, usually paid over 1–3 years. If everything goes well, you receive your interest periodically and principal at maturity, which would yield those returns (before any taxes).

• Some projects may offer convertible bonds or revenue share, but those are less common; returns then could be a mix (interest + equity upside).

It’s crucial to note that these are promised or target returns. Actual realized returns can be lower if there are delays or defaults. For instance, an 8% loan that gets restructured might end up paying only part of that, or late. Also, Tudigo historically has not disclosed aggregate performance (average IRR, etc.), so one must go by individual outcomes. Independent reviews have pointed out that Tudigo’s average returns aren’t clearly published – and some projects have resulted in losses. In summary: Debt investments might net mid-single to low-double-digit annual returns if repaid, and equity investments are high-risk-high-reward (could be multi-bagger or zero). A diversified portfolio might aim for an overall return in the high single digits, but that’s not guaranteed.

What are the main risks of investing through Tudigo?

The main risks include:

• 💸 Capital Loss: You can lose some or all of your invested money. There is no guarantee on the principal. If a company fails, equity investors typically lose everything (they are last in line in bankruptcy). Bond investors might recover a small fraction in a default if there’s collateral, but often it can be a major loss. Per Tudigo’s own risk disclosure: “aucune garantie de récupérer son investissement” – no guarantee of getting your money back. So only invest what you can afford to lose.

• ⏳ Illiquidity: Your investment is locked in; you cannot easily sell or cash out before the exit or maturity (as discussed). This lack of liquidity means you should not invest funds you might need on short noticebaltis.com. You also have to be patient – even successful investments take years to pay off.

• 📈 High Failure Rate: Especially with startups, the failure rate is high. Tudigo’s portfolio has seen several companies go bankrupt or underperform. While Tudigo’s selection is supposed to filter out the worst, some funded companies have gone under (about 2% of equity deals per year historically, as noted). Bonds have a risk of default – e.g., 11% default rate in 2023 on Tudigo’s bonds. That means not every project will succeed; you must expect that a portion of your investments will likely fail.

• 📊 Returns Uncertain: Even if not a total loss, investments can yield lower returns than expected. A startup might exit at a lower valuation than hoped (or take much longer, reducing IRR), and loans can get rescheduled or extended (you get your money late, which affects your yield). Some projects might only return part of the capital. So the risk is not just loss, but also that the timing and magnitude of returns are uncertain.

• ⌛ Delays: Delays are common. For loans, a project might need an extension if, say, a real estate development is delayed – you’d get paid later (often with some penalty interest, but still later). For equity, “delays” mean maybe no exit has happened after many years, so your money is tied up with no return yet. Investors must be mentally prepared for timelines to stretch.

• Legal/Structural Risks: Investing via an SPV means certain legal complexities. There’s a risk of double taxation of gains (mitigated by tax rules, but still a consideration). Also, as a minority investor, you rely on Tudigo and the SPV manager to represent you. There’s a risk (albeit small) of mismanagement – e.g., if Tudigo (or the SPV) didn’t follow up on enforcing rights, you as an individual might have limited recourse. However, Tudigo’s incentives are to handle this well to maintain reputation.

• Platform Risk: If Tudigo were to go out of business or face technical issues, it could complicate things. The investments would not vanish (they are in separate SPVs or contracts), but managing them (getting updates, coordinating investors) would be harder. The PSFP regulation requires plans for continuity (e.g., another firm could take over management of the outstanding investments). Nonetheless, it’s a risk to consider – you are tying up money potentially beyond the platform’s own lifespan (though Tudigo is doing well currently).

• Economic & Market Risk: Broader economic downturns can impact these investments heavily. In a recession, more startups fail and more borrowers default. For example, rising interest rates in 2023 made fundraising harder and could stress companies that raised via Tudigo, causing more defaults. Unlike a savings account, these are not protected against macro events.

• Fraud Risk: As seen with AL Constructions, there is a risk of fraudulent misrepresentation by an issuer. While rare, it can happen that a company lies or hides critical info and gets funded. Tudigo tries to catch this, but it’s not 100% guaranteed. Fraud can lead to sudden losses, as in that case where the company collapsed due to essentially being dishonest.

• Regulatory/Legal Risk: Changes in law could affect the tax benefits (e.g., if the 25% tax credit is reduced or removed in the future) or impose new rules on platforms that could affect how investments are managed. Also, cross-border investors should consider currency risk if applicable (Tudigo deals are in EUR, so non-euro investors bear FX risk).

In summary, the main risk is that you might not get your money back, or not get the returns you expected, and you have no control or liquidity in the meantime. Diversification is crucial: it’s advised to spread your investments across many projects and even across platforms/types, to mitigate the impact of one failure. A common rule is not to put more than 5–10% of your investable assets into this high-risk category (and within that, split among multiple companies). Tudigo itself echoes this principle in its investor education. By diversifying, the hope is that a few big successes outweigh the losses from failures. But you must be comfortable with the possibility of losing money and with having your funds locked up. If those risks are a concern, one should consider safer or more liquid investments instead.

Does Tudigo do anything to mitigate these risks for investors?

Tudigo’s role is mainly upfront and administrative: they select deals carefully (mitigating risk by trying to choose quality projects), they perform due diligence (to avoid outright bad actors or unsound businesses), and they structure deals in investor-friendly ways (using SPVs, getting collateral on loans when possible). They also monitor projects post-funding and can step in to renegotiate terms if a company hits trouble (e.g., arranging debt extensions to avoid default).Additionally, by being regulated, they must ensure transparency – every investment has a detailed information document outlining risks, so investors are informed. Tudigo does not provide guarantees or insurance on investments (no crowdfunding platform in this space does, since that would defeat the purpose of equity risk). In some cases, for bond issues, Tudigo has arranged “nantissement” (pledges) or personal guarantees, which can help recover some value if a default happens. But as noted, those are only as good as the execution (and in one case they weren’t properly executed). Tudigo also holds that 2% reserve from investors to potentially fund legal action – which is a way to defend investors’ interests if needed (for example, they could use it to sue a fraudulent issuer or to enforce a guarantee).

One more mitigation: Tudigo’s fee structure with carry means they have incentive for projects to actually succeed (to earn that 20% performance fee), aligning them somewhat with investors in the long run. And finally, Tudigo encourages diversification and provides tools for it (you can invest small amounts in many deals), which is the classic way to mitigate risk – though that’s up to the investor to implement. So while Tudigo can’t remove the fundamental risks, it tries to reduce risk exposure through careful curation, legal safeguards, and active follow-up.