La Première Brique - Risk and return review
La Première Brique - Returns and loss rates
La Première Brique – Platform statistics 2026
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investors
La Première Brique – Pros & Cons
About La Première Brique
What it is
La Première Brique is a French crowdfunding platform, based in Lyon, that lends investors' money to property developers and property dealers who buy, renovate and resell. Since it started in 2019 it has financed more than 900 projects for close to €440 million (as of 1 October 2026), and 223,603 investors have registered (1 November 2026). It is one of the largest French property platforms by number of investors.
How it works
You can invest from €1 per project, on the website or in the app. Each project is a loan through bonds, usually repaid with interest at the end. Terms run from 1 to 60 months, 19 months on average. An auto-invest tool (the "jimbots") places money in new projects that match your criteria as soon as they open, and you can still confirm or cancel each investment. Cash waiting in your wallet earns up to 3% a year, capped at the amount you invested the month before.
Returns
The platform advertises up to 13% a year before tax. Its own performance table gives an average rate of 11.4% a year promised at subscription across all loans since 2019 (September 2026), from 10.6% for 2022 loans to 14.6% for 2021 loans. These are contract rates, not returns after losses: the platform shows no net return after defaults and marks that figure as not available.
Losses and defaults
No final loss has been declared so far. But a large share of loans is in difficulty. According to the platform's monthly table (as of September 2026, as reproduced by independent reviews), 41 projects with €20.8 million are in insolvency or court proceedings, 40 projects with €25.5 million are in an out-of-court rescue procedure and one is more than six months late. Together that is about 10.6% of all money lent. Another 14 projects (€9.0 million) are up to six months late, and 115 projects (€71.5 million) run on extended schedules after their deadlines were changed; the table counts these as performing. Loans from 2022 to 2024 are worst affected, with around 17% in procedure. Because so little has been closed out, final losses are still unknown.
What secures your money
The platform says it takes a pledge over the shares of each project company, so it can take control of the project if the developer does not keep its commitments. Depending on the deal, it adds a mortgage, a fiducie (assets handed to a trustee that can be sold to repay investors), a first-demand guarantee from a company, or a personal guarantee from the developer. Guarantees depend on the guarantor being able to pay and are not security over an asset. There is no buyback or reserve fund, and the platform publishes no figures on what has been recovered from failed loans; with 81 projects in rescue or insolvency procedures, the strength of this security is now being tested.
Who runs it and its licence
The platform is run by La Première Brique SAS (Lyon, company number 848 713 442, share capital €150,000). The French market regulator (AMF) licensed it as a European crowdfunding service provider under number FP-2023-15 and supervises it. Investments are not covered by a deposit guarantee or investor compensation scheme.
Fees
Investors pay no fees: opening an account, investing, and moving money into and out of the wallet are free. The platform earns its income from the developers that borrow.
Getting your money out
Money is tied up until each loan is repaid; the site describes no secondary market for selling a loan early. Repayments arrive in your wallet with tax already deducted for French residents, and you can reinvest or withdraw them free of charge. With 115 projects on extended schedules and 81 in procedures, many investors are waiting longer than planned.
Our view
Return: High, with an average promised rate of 11.4% a year since 2019. Risk: Low (higher means more risk): no final loss is declared, which on its own is the lowest level, Very Low; we set it one step higher, at Low, because about 10.6% of money lent is in a rescue or insolvency procedure or more than six months late, and 115 projects run on extended schedules, so losses could end up higher. Risk-return: High, because a high promised rate goes with a low risk level; no return after losses is published to show what investors finally keep.
Regulation
License / Regulation: La Première Brique SAS (company number 848 713 442, Lyon) holds a European crowdfunding service provider licence from the French market regulator (AMF), number FP-2023-15, and is supervised by the AMF. Investments are not covered by a deposit guarantee or investor compensation scheme.
Functionality
For Investors
Useful Information
Yes. The French market regulator (AMF) licensed La Première Brique SAS as a European crowdfunding service provider under number FP-2023-15, and supervises it.
Mangopay, a licensed electronic-money institution, holds your cash in a personal wallet. Once invested, your money is lent to the developer's project company through bonds.
€1 per project. Anyone adult, or a company, can invest after the regulatory questionnaires and an identity check.
The average rate promised since 2019 is 11.4% a year, with up to 13% advertised. No final loss is declared, but as of September 2026 about 10.6% of money lent was in rescue or insolvency procedures or over six months late, and 115 projects ran on extended schedules.
The platform takes a pledge over the project company's shares and, depending on the deal, a mortgage, a fiducie, a company guarantee or a personal guarantee from the developer. There is no buyback or reserve fund, and no recovery figures are published yet.
Not before a loan is repaid: the site describes no secondary market. Terms run from 1 to 60 months, 19 months on average, and many projects have been extended. Repaid money can be withdrawn from your wallet free of charge.
None. Opening an account, investing, and paying money in and out are free. Cash in your wallet earns up to 3% a year, capped at what you invested the previous month.
Yes. The "jimbots" invest automatically in new projects that match your criteria, and you can still confirm or cancel. The platform has apps for iPhone and Android.
Your bonds are claims on the project company, and your cash sits at Mangopay, apart from the platform's money. If a developer fails, recovery depends on the pledge, mortgage or guarantee in that deal and on court procedures, which can take years. No compensation scheme applies.
