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DISQUALIFICATION
Final score below 30 after application of RF5 (−10 pts, unverified unregulated platform) and RF10 (−3 pts, 18%/year rate without registered real guarantee). Net B score = 1/75. Unregulated platform, operator not identifiable, no documented history.
À propos
Investment in a package of 12 hectares of forest land in Latvia via FF Forest platform. The operator buys undervalued deforested land, exploits it and reforests it to generate carbon credits. Loan of €50,000 over 24 months at 18%/year, with early exit options at 6 or 12 months.
Plateforme · 1.0/25
A1 · Statut réglementaire
0.0/8faible
- AMF status not disclosed ('?')
- No identifiable agrément AMF, ECSP, statut réglementaire CIP, IFP or equivalent EU licence in the registers consulted
- RESEARCH REQUIRED: AMF register 'ff forest' + registre ORIAS + ESMA
- Score 0/8 by principle of prudence
- Would trigger RF5 (−10 pts) on any associated project
A2 · Track Record
0.0/6faible
- No identifiable published statistics: default rate N/C, delay rate >90d N/C, actual vs announced return N/C
- Penalty −2 pts applied + all base scores at 0
- RESEARCH REQUIRED: 'ff forest' statistics platform default delay
A3 · Rigueur de sélection
0.0/4faible
- No information on project selection process, selection rate, committee or borrower KYC identifiable
- RESEARCH REQUIRED: 'ff forest' project selection process
A4 · Santé financière
0.0/4faible
- No information on the financial health, shareholding or history of the platform
- Impossible to confirm the legal existence of 'ff forest' in the available registers
- Score 0 by prudence
A5 · Protection investisseurs
1.0/3faible
- No agrément AMF/ECSP licence confirmed, therefore no automatic attribution of the regulatory point
- 1 pt awarded as minimal hypothetical credit if legal existence subsequently confirmed
- RESEARCH REQUIRED: ff forest general conditions, fund segregation, secondary market
Projet · 15.0/75
(18.0 brut, red flags −3)
B1 · Instrument & Structure
4.0/10faible
B1.1: 2/5 - obligation convertible/hybrid instrument, unclear documentation
B1.2: 1/3 - Latvian law mentioned, insufficient structural documentation
B1.3: 1/2 - Land guarantee claimed but not formally registered at the conservator as confirmed
B2 · Opérateur & Track record
3.0/15faible
B2.1: 1/4 - 'Morgan Yvon Charles D.' appointed but without verifiable accessible profile
B2.2: 1/5 - First documented operation, Timbro partnership mentioned
B2.3: 0/3 - No history on any known platform
B2.4: 1/3 - No identifiable procedure but entity not verifiable in registers
B3 · Garanties & Sûretés
4.0/15faible
B3.1: 4/9 - Guarantee on forest land 'registered in the commercial register of Latvia', implicit personal guarantee, rank not specified
B3.2: 0/4 - Strength of guarantor not assessable, no accounts available
B3.3: 0/2 - No banking partner identified
B4 · Structure financière
3.0/15faible
B4.1: 2/5 - Loan-to-Value (ratio prêt/valeur actif) not calculable, partial forest land collateral
B4.2: 0/4 - Equity contribution not documented
B4.3: 0/4 - No stress test presented, Loan-to-Value (ratio prêt/valeur actif) unknown
B4.4: 1/2 - Timbro partner (€80M turnover) provides partial operational stability
B5 · Pré-commercialisation
1.0/10faible
- AGRI: no crop sale contract, no documented CAP payment, no cycle history
- First cycle apparent, no contractualised sale, portfolio data not communicated
B6 · Permis & Maturité
2.0/5faible
- Forest activity mentioned in Latvia, registration at Latvian commercial register evoked
- Legal documents not verifiable in file
- Presumed legal structure sound but not confirmed
B7 · Marché & Localisation
1.0/3faible
- Stable Latvian agricultural/forest market, modest documented growth
- Rise in energy and fertiliser costs weighs on profitability
- Secondary market poorly liquid for Latvian forest land
⚠ Alertes détectées · −3 pts déduits
Plateforme non régulée
Déjà comptabilisé dans le score plateforme (A1)
FF Forest platform without any verifiable PSFP/ECSP/CIP/IFP licence - deduction −10 points
Rendement élevé sans garantie réelle
−3 pts
Rate served 18%/year without formally confirmed registered real guarantee (registered mortgage not documented) - deduction −3 pts
Points forts
Partnership with Timbro, Latvian forestry company with €80M turnover.
Tangible asset (forest land) mentioned as guarantee.
Early exit options at 6 and 12 months contractually provided.
Latvian agricultural market in moderate and stable growth according to live data.
Risques identifiés
FF Forest platform without verifiable regulatory licence (PSFP, ECSP, CIP, IFP).
Operator 'Morgan Yvon Charles D.' not identifiable in accessible public registers.
Rate of 18%/year well above AGRI standard (5-10%), without confirmed formally registered real guarantee.
No history of repaid projects, no published platform statistics.
Complete absence of banking partner, stress test and detailed financing plan.
⚠ 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.