TOKIMO - Risk and return review
TOKIMO - Returns and loss rates
Investment maturity
TOKIMO – Platform statistics 2026
31793
investors
TOKIMO – Pros & Cons
About TOKIMO
What it is
TOKIMO is a French property crowdfunding platform, run by TOKIMO SAS in Paris and founded in July 2022. You lend to property developers and dealers by buying bonds from €100. Despite the name, there are no tokens: these are ordinary bonds. Most projects are in France, with a few abroad, including Bali. Its home page shows more than €55 million collected (October 2026); its own yearly indicators show €52.3 million lent across 108 projects at 30 September 2026. Its own pages give different counts for projects and investors.
How it works
Each project is a bond issued by the developer's project company, usually lasting around a year or two. You pick projects yourself, from €100 each (Co-Invest deals from €1,000). Your money waits in a payment account until the raise is complete and is then released to the developer. While it waits, a "Bonus Invest" offer pays up to 3% a year (October 2026). Interest on the project itself starts later; investors report it begins only when the deal is signed at the notary, which can be weeks or months after paying in. Less experienced investors get four days to cancel a subscription.
Returns
TOKIMO advertises that its projects pay 11.38% a year on average (home page, October 2026). That is the average rate promised on the bonds, before tax, not a measured result: no figure for what investors actually earned, or for the return after losses, is published. About 36% of the money lent, €18.9 million across 41 projects, had been repaid by 30 September 2026. Individuals resident in France have about 30% flat tax withheld from interest.
Losses and defaults
No money has yet been written off: losses were 0% of the €52.3 million lent at 30 September 2026. But a growing share of loans is not running to plan. At that date, 21 projects (€10.4 million, 19.94% of all money lent) had their repayment dates changed, and 7 projects (€3.3 million, 6.25%) were in formal or out-of-court proceedings with their creditors. Together that is 26% of everything lent, or about 41% of the €33.4 million still outstanding, calculated from the platform's own figures. Three months earlier the counts were 18 and 5 projects. Loans made in 2024 fare worst: 12 of 29 are late or in proceedings. Investors report one project running late with a higher rate applied and another unsold for more than a year (August 2026).
These figures come from TOKIMO's own yearly indicators table, but the link to it on the platform's site has not worked since at least 31 August 2026, so investors cannot easily see them.
What secures your money
TOKIMO says its bonds are usually secured by a first-rank mortgage on the property and a personal guarantee from the developer's boss signed before a notary, as on its Evian project. Some project pages show a loan-to-value ratio (73% on Evian), but no maximum, valuation method or follow-up rules are published. There is no buyback, reserve fund or first-loss share kept by the platform. On recoveries, the platform says the Evian property was sold and investors were repaid in full, without amounts, and its indicators show €1.8 million recovered on troubled projects without saying how this is measured. In plain terms: each loan rests on the developer finishing and selling the property, with the mortgage as the fallback, and that fallback has not yet been tested on the projects now in proceedings.
Who runs it and its licence
TOKIMO SAS (share capital €50,000) is authorised by France's financial markets regulator (AMF) as a European crowdfunding service provider, number FP-2023-3, since 17 May 2023, for placing securities and passing on investors' orders. The authorisation is listed as active on the European register. The register shows no passport to offer its service in other EU countries. No regulator action against it was found (August 2026).
Fees
Investing is free for investors: no entry, management or exit fee (home page, October 2026). TOKIMO is paid by the developers and does not publish how much.
Getting your money out
There is no secondary market. Your money stays in each project until the developer repays, which can be later than planned: a quarter of the money lent is already behind schedule or in proceedings. Investors' cash is held by Lemonway, a French payment institution, in a separate account in the investor's name that TOKIMO cannot use.
Our view
Return: High — the platform advertises 11.38% a year on average, a promised rate rather than a measured one. Risk: Low (higher means more risk) — nothing has been written off yet, which on its own would mean very low risk, but we rate it one step worse because 26% of the money lent is late or in proceedings and rising, and the platform's own indicators file cannot be opened; losses could end up higher. Risk-return: Low — with only an advertised rate and no measured return, the pay cannot be shown to match the risk.
Regulation
License / Regulation: TOKIMO SAS is authorised by the Autorité des marchés financiers (AMF) as a European crowdfunding service provider under Regulation (EU) 2020/1503, number FP-2023-3, since 17 May 2023, for placing securities without a firm commitment and receiving and passing on client orders. Listed as active on the European register; it does not offer its service in other EU countries under the EU passport. No regulator action was found (August 2026).
Functionality
For Investors
Useful Information
Yes. TOKIMO SAS has been authorised by France's financial markets regulator (AMF) as a European crowdfunding service provider since 17 May 2023, number FP-2023-3. The authorisation covers how it offers the bonds; it does not protect you if a developer fails.
Lemonway, a French payment institution, holds your cash in a separate account in your name that TOKIMO cannot use. Once a raise completes, the money goes to the developer's project company in exchange for its bonds.
€100 per project; Co-Invest deals start at €1,000.
TOKIMO advertises 11.38% a year on average, a promised rate before tax; no measured return is published. Nothing has been written off yet, but at 30 September 2026, 26% of the €52.3 million lent was behind schedule (19.94%) or in proceedings (6.25%), up from three months earlier.
Usually a first-rank mortgage on the property and a personal guarantee from the developer's boss, according to the platform. There is no buyback or reserve fund, and no loan-to-value limit or valuation rules are published. How well the mortgages work has not yet been shown on the projects now in proceedings.
No. There is no secondary market, so your money stays in each project until it repays, which can be later than planned. Less experienced investors can cancel a new subscription within four days.
None: investing is free for investors. TOKIMO is paid by the developers and does not publish how much. Individuals resident in France have about 30% flat tax withheld from interest.
If a developer fails, recovery depends on selling the property under the mortgage and on the personal guarantee, which can take years. If TOKIMO fails, your bonds are still owed by the project companies and your cash at Lemonway is kept separate, but no back-up manager for the bonds is named.
The link to its yearly indicators file on the home page has not worked since at least 31 August 2026 (checked again 26 October 2026). The figures on this page come from the same table at 30 September 2026. Its pages also give different counts for money raised, projects and investors.
