Le Rivoli (75) — 12%/an · 36 mois

À propos

Liquidity credit line of 1.0-1.5 M€ granted to Gustave Collection Rivoli (SASU), luxury office operator 'Haute Couture Office', to finance launch of its site at 232 rue de Rivoli (Paris 1st arr.). Repayment backed by rents received on the Opéra asset (pledged) and rent from the Rivoli lessee (~4.99 M€/year), with banking refinancing targeted within 3 years. Principal security: pledge of rental receivables on 3 Opéra contracts + first-demand guarantee from holding.

Plateforme · 18.0/25

A1 · Statut réglementaire 8.0/8✓ max

agrément AMF licence AMF fonds propres-2023-15 currently valid
Maximum regulatory status

A2 · Track Record 3.0/6

Default 10.45% → 1.5pts (×0.5=0.75)
Delay 10.45% → 4.5pts (×0.3=1.35)
Target IRR ~10% consistent with historical announcements → 6pts (×0.2=1.20)

A3 · Rigueur de sélection 2.0/4

880 projects funded, 420M€ raised since 2019
Process mentioned but selection rate not published in available data

A4 · Santé financière 3.0/4bon

Independent platform, 6 years of operations, iXO Private Equity entry into capital in 2025
Modest share capital (150K€) but institutional support now secured, no platform distress signal identified

A5 · Protection investisseurs 2.0/3

agrément AMF licensed → mandatory 4-day reflection period and business continuity plan (1pt)
Segregated payment account probable via third-party provider (1pt)
Secondary market not documented in available data

Projet · 37.0/75

B1 · Instrument & Structure 7.0/10

B1.1: 4/5 - ECSP participating loan documented, quasi-equity nature

B1.2: 3/3 - Dedicated operating société dédiée (SPV), French law

B1.3: 0/2 - Subordinated participating loan, existing financial debts 4.07M€

B2 · Opérateur & Track record 11.0/15

B2.1: 4/4 - Mathieu Billard appointed, detailed track record

B2.2: 4/5 - Opera assets operated and leased, group created 2021

B2.3: 2/3 - Le Ténor underway on LPB, no incident reported

B2.4: 1/3 - Holding with negative equity, société dédiée (SPV) gearing ~5

B3 · Garanties & Sûretés 6.0/15faible

B3.1: 5/9 - Pledge of receivables unregistered and non-bank GAPD holding

B3.2: 1/4 - Guarantor with negative equity; pledged debtors solid

B3.3: 0/2 - No banking partner, project below 2M€

B4 · Structure financière 2.0/15faible

B4.1: 2/5 - No assets held; pledged receivables covering ~2.4x

B4.2: 0/4 - Equity committed indicated NA

B4.3: 0/4 - No stress test presented

B4.4: 0/2 - No target IRR; société dédiée (SPV) in loss (−1.53M€)

B5 · Pré-commercialisation 7.0/10

B5: 7/9 - Sublease 10 years firm at 4.99M€/year
Lessee unnamed and contradictory with Baltis (Hedosophia)

B6 · Permis & Maturité 3.0/5

B6: 3/5 - Lease signed in 2023 and fit-out underway
No work licence documented

B7 · Marché & Localisation 1.0/3faible

B7: 1/3 - Prime QCA, but office market in decline
Rent ~2,014€/m² well above prime
Score adjusted through live data: declining trend

Points forts

✓Platform licensed PSFP AMF under number FP-2023-15.

✓Identified manager, over 10 years experience at Regus.

✓Rivoli sublease signed 10 years firm for 4.99M€/year.

✓Pledged receivables on White & Case, Proskauer and Zenith Bank.

✓Half-yearly amortisation of 10% and sequestration of one semester of interest.

Risques identifiés

!Subordinated participating loan, behind 4.07M€ of financial debts.

!Guarantor holding with negative equity (−574K€) as at 31/12/2025.

!Office market in decline; final repayment dependent on banking refinancing.

!Documentary inconsistencies: Rivoli lessee, guarantor identity, frequency, declared activity.

!Opera receivables possibly already mobilised for Le Ténor loan (1.535M€).

⚠ 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.