Regulated
- Risk level
- High
- Risk-return
- Good
- Start from
- €1,000
GwenneG Review 2026
Property, Startups · France · since 2015
Reviewed by Eugene Sokolovs, figures checked 3 Nov 2026
Rennes crowdfunding platform since 2015, AMF-authorised: unsecured bonds of property developers, energy projects and small firms in western France. €86.6 million financed in 123 projects; about half of what is still owed is in restructuring or court (June 2026).
- Risk level
- High
- Crowdinform rating
- Return investors got
- 7.09% a year
- Historical return, as the platform publishes it
- Start from
- €100
Capital at risk. Past returns do not predict future returns; a borrower can pay late or not at all.
Returns and risk
Risk level
HighHigher means more risk. Capital lost for good is 1.84% of all money financed (June 2026), a middle level on its own. We move it one step worse because about 52% of the money still owed is in restructuring or court, the bonds are unsecured and rank behind the banks, no default rate is published, and new lending has fallen sharply. Final losses could end up higher.
Return level
LowSet by the weighted average contract rate of 7.09% a year across all bonds and loans since 2015 (30 June 2026), before losses.
Risk for the return
Very badA modest 7.09% contract rate against a high level of risk: with 22% of all money financed in restructuring or court, the interest may not cover the losses still to come.
- Weighted average annual rate
- 7.09% a yearWeighted average interest rate in the contracts of all bonds and loans financed since 1 June 2015, as of 30 June 2026, before losses. Not a realised return; no return after losses is published. Property bonds offered up to 9% in August 2026, energy bonds about 5%.
What the platform reports about losses (its own definitions)
- Realised losses
- 1.84%Capital lost for good, €1.59 million, against €86.6 million financed since June 2015, as of 30 June 2026. Calculated from the platform's own figures; €1.36 million was recovered on the same projects (about 46%).
- Default rate (restructuring or court)
- 22.07%Capital in amicable restructuring (€16.6 million) or in court or insolvency proceedings (€2.5 million), against all €86.6 million financed since 2015, as of 30 June 2026. Calculated from the platform's own figures; it publishes no default rate of its own.
- Money still owed in restructuring or court
- 51.9%The same €19.1 million in restructuring or proceedings, against the €36.9 million of capital still owed, as of 30 June 2026. Calculated from the platform's own figures.
- Loans with changed repayment dates
- 7.87%Capital whose repayment schedule has been changed, €6.8 million, against €86.6 million financed since 2015, as of 30 June 2026. Calculated from the platform's own figures.
Capital at risk. Past returns do not predict future returns; a borrower can pay late or not at all.
Statistics
- €86.6M
- funded since 2015
- 123
- projects funded
Pros and cons
Pros
- AMF-authorised under the EU crowdfunding rules (FP-2023-11, since 31 July 2023), running since 2015.
- Publishes a half-yearly performance report with every status, from repaid to lost, and the recovery on lost projects (latest 30 June 2026).
- 79 of 123 projects are fully repaid, €49.8 million of capital returned (30 June 2026), with an average term of 28.5 months.
- Money is held in escrow in your name at Mangopay, and a wind-down contract is meant to keep payments running if the platform stops.
Cons
- About 52% of the €36.9 million still owed is in restructuring or court (30 June 2026), with €2.46 million of interest unpaid.
- Bonds are unsecured and rank behind the developer's bank, with no guarantee or buyback.
- No default rate, definition or return after losses is published; the figures have to be calculated from the status table.
- New lending has fallen sharply: 30 projects in 2018 against 4 in 2025 and 3 in the first half of 2026.
- No secondary market: you cannot sell early, and troubled projects can keep money locked for years.
How it works
For investors
- Minimum
- €100
- Currencies
- EUR
- Languages
- French
- Limits
- Adults and legal entities with a completed and validated investor profile. Investors are classed as sophisticated or non-sophisticated, with an entry test, a loss simulation and a 4-day withdrawal right. The service is offered in France only. Each offer sets its own minimum (€100 to €1,000) and maximum.
For borrowers and companies
- Security
- Unsecured · Usually nothing. The bonds are unsecured and rank behind the developer's bank, so if a project fails the bank is paid first. There is no guarantee, buyback, reserve fund or insurance, and the platform states that it does not guarantee your investment. The offers publish no loan-to-value or independent valuation. On the projects already lost for good, about 46% of the money was recovered. In plain words: you depend on each developer finishing and selling its project, and you are paid after its bank.
About and licence
What it is
GwenneG is a crowdfunding platform from Rennes, founded in 2015, that finances projects in Brittany and western France. Most of its money goes into bonds of local property developers; it also offers bonds for renewable-energy projects and small businesses, and a few share offers. Since June 2015 it has financed 123 bond and loan projects for €86.6 million, of which 79 are fully repaid (30 June 2026). New lending has fallen sharply: 30 projects in 2018, 9 in 2024, 4 in 2025 and 3 in the first half of 2026.
How it works
You choose projects yourself, from €100 on some offers; property bonds usually start at €1,000. Property bonds run 12 to 36 months and are repaid in one go at the end; energy bonds run 48 to 60 months with regular payments; small-business bonds 12 to 48 months. The average term across all projects is 28.5 months. You have four days to change your mind after investing.
Returns
The weighted average interest rate across all bonds and loans since June 2015 is 7.09% a year, before losses (30 June 2026). This is the rate agreed in the contracts, not what investors actually received; no return after losses is published. Investors have been paid €7.97 million in interest so far. Rates differ by type: a property bond in August 2026 offered 9% a year, an energy bond about 5%.
Losses and defaults
Losses written off so far are moderate, but a large part of the money still owed is in trouble. €1.59 million has been lost for good, 1.84% of the €86.6 million financed, calculated from the platform's own figures (30 June 2026); on those projects €1.36 million was recovered, about 46%. In addition, €16.6 million is in amicable restructuring with the developer, with €2.46 million of interest unpaid, and €2.5 million is in court or insolvency proceedings. Together that is 22.07% of all money financed and about 52% of the €36.9 million still owed. Another €6.8 million (7.87%) has had its repayment dates changed. The trouble sits mainly in property bonds from 2021 to 2023. The platform publishes no default rate or definition of its own.
What secures your money
Usually nothing. The bonds are unsecured and rank behind the developer's bank, so if a project fails the bank is paid first. There is no guarantee, buyback, reserve fund or insurance, and the platform states that it does not guarantee your investment. The offers publish no loan-to-value or independent valuation. On the projects already lost for good, about 46% of the money was recovered. In plain words: you depend on each developer finishing and selling its project, and you are paid after its bank.
Who runs it and its licence
GwenneG SAS (Rennes, SIREN 808 867 220) is authorised by France's markets regulator, the AMF, as a crowdfunding service provider under the EU crowdfunding regulation, number FP-2023-11, since 31 July 2023. It may offer its service only in France. Before that it was registered as a French crowdfunding intermediary and adviser. It belongs to the GwenneG Financial Solutions group and says it has more than 250 local shareholders. If GwenneG stops trading, a contract with its payment agent is meant to keep coupons and repayments flowing until the bonds end.
Fees
Registration is free. The platform's public pages do not list fees for investors; check each offer's key information sheet before investing.
Getting your money out
You cannot sell early. The bonds are not listed on any market, the platform says resale is not guaranteed and may be impossible, and money cannot be taken back before the repayment date. If a project goes into restructuring or court, you stay in for the whole process, which can take years.
Our view
Return: Low — 7.09% a year on average in the contracts, before losses (30 June 2026). Risk: High (higher means more risk) — only 1.84% has been lost for good, but about half of the money still owed is in restructuring or court, the bonds are unsecured and rank behind the banks, and new lending has dropped sharply. Risk-return: Very Low — a modest contractual rate against a high share of troubled projects.
Licence
GwenneG SAS (SIREN 808 867 220) is authorised by the French Autorité des marchés financiers (AMF) as a crowdfunding service provider under Regulation (EU) 2020/1503, authorisation FP-2023-11, granted 31 July 2023, for placing and order transmission in shares and bonds. No passport to other EU countries is recorded. It was previously registered with ORIAS (15002173) as a French crowdfunding intermediary (IFP) and adviser (CIP). No deposit guarantee or investor compensation scheme covers losses.
Questions people ask
Is GwenneG regulated?
Yes. GwenneG SAS is authorised by France's markets regulator, the AMF, as a crowdfunding service provider under the EU crowdfunding rules (FP-2023-11, since 31 July 2023). It may offer its service only in France. Regulation does not protect you from losses.
Who holds my money?
Mangopay, a licensed payment institution, keeps your money in an escrow account opened in your name, separate from GwenneG's own money. If GwenneG stops trading, a contract with a payment agent is meant to keep payments running.
What is the minimum investment?
It depends on the offer: from €100 on some energy bonds, usually €1,000 on property bonds. Each offer also sets a maximum.
What returns, and what losses so far?
The average contract rate is 7.09% a year before losses (30 June 2026). €1.59 million, 1.84% of the €86.6 million financed, has been lost for good. A further €19.1 million (22%) is in restructuring or court, about half of the money still owed.
What secures my investment?
Usually nothing. The bonds are unsecured and rank behind the developer's bank, with no guarantee, buyback or insurance, and the platform says it does not guarantee your investment. On projects already lost for good, about 46% of the money was recovered.
Can I sell my bonds early?
No. The bonds are not listed, resale may be impossible, and money cannot be taken back before the repayment date. You can cancel within four days of investing.
What fees do I pay?
Registration is free. The platform's public pages list no investor fees; check each offer's key information sheet.
What happens if GwenneG or a developer fails?
Your money is held by Mangopay in your name, and a payment agent is contracted to keep payments running if GwenneG stops. If a developer fails, you are paid after its bank; recovery can take years through restructuring or court, and no compensation scheme covers losses.
What is an amicable procedure, and why does it matter here?
It is a confidential restructuring between a struggling developer and its creditors, outside court. At GwenneG, €16.6 million of capital was in such procedures on 30 June 2026, mostly property bonds from 2021 to 2023, with €2.46 million of interest unpaid. Repayment is delayed, and the final loss is not yet known.
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