Le Fourgon — Levée de fonds equity

Plateforme · 17.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF in force, licence fonds propres-2023-27
Maximum regulatory status

A2 · Track Record 1.0/6faible

Default 26.23% (>15%) → 0/6
Delay >90 days 17.91% (15-30%) → 3/6
Actual vs announced yield N/C → 0/6
A2 = (0×0.5)+(3×0.3)+(0×0.2) = 0.9 pt
Score adjusted based on live data: default rate very high (26.23% vs market average 15.66%) and significant delay rate heavily penalise this criterion

A3 · Rigueur de sélection 4.0/4✓ max

Published acceptance rate 5% (<20%) + documented selection process
Maximum score

A4 · Santé financière 3.0/4bon

Independent platform, 12 years of existence, >220M€ cumulative, 3 countries, no platform distress signal identified
No listed institutional shareholder → 3 pts

A5 · Protection investisseurs 1.0/3faible

Licensed agrément AMF → 4-day reflection period + legally mandatory continuity plan (1 pt)
Segregated accounts and secondary market not documented in available data

Projet · 26.0/75

B1 · Instrument & Structure 3.0/10faible

B1.1: 1/5 - Ordinary shares, offer terms not documented

B1.2: 2/3 - Direct issuance by the operating company, French law

B1.3: 0/2 - Capital subordinated to all creditors

B2 · Opérateur & Track record 5.0/15faible

B2.1: 2/4 - CEO Charles Christory appointed, LinkedIn profile not verified

B2.2: 2/5 - Company incorporated in 2021, losses, claimed SaaS exit

B2.3: 0/3 - No documented crowdfunding history

B2.4: 1/3 - No insolvency (Verif.com), BODACC not verified

B3 · Garanties & Sûretés 4.0/15faible

B3.1: 2/9 - Agreement: pre-emption and tag-along for certain shareholders only

B3.2: 1/4 - Existing strategic committee, no dedicated rights for crowd investors

B3.3: 1/2 - Drag-along provided for, no organised liquidity

B4 · Structure financière 4.0/15faible

Valuation and amount raised not disclosed
2022 round valued at approximately 27M€ for claimed 38M€ ARR
EBITDA of −7M€ per annum and break-even only projected
Runway and residual need unknown, no audited accounts provided

B5 · Pré-commercialisation 6.0/10

Over 100k customers, repurchase rate of 40-52% and claimed 38M€ ARR
Diversified B2C base
Data from pitch declarations, not audited

B6 · Permis & Maturité 3.0/5

Business established since 2021 and articles of association provided
Articles dated 2022 (capital 5,417€) whereas register indicates 6,898€: documents to be updated

B7 · Marché & Localisation 1.0/3faible

Score adjusted through live data: market_trend=declining (tertiary real estate Lille), limited relevance for this business
Reuse market supported by regulation, but competition and profitability remain uncertain

Points forts

✓Claimed ARR of 38M€, with announced growth of +40% per annum

✓Customer base of over 100k, rating of 4.97/5 on over 20k reviews

✓Reuse market supported by European regulation on packaging

✓Directors and founders identified in the articles of association

✓Platform licensed PSFP AMF with published selection at 5%

Risques identifiés

!Negative EBITDA (approximately −7M€) and profitability only projected for 2027

!Amount, valuation and rights of securities offered not disclosed

!Risk of total loss and illiquidity inherent to unlisted capital.

!BODACC, Infogreffe and news not verified: search limit reached

!Platform with a default rate of 26.23% according to live data

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.