Virgil, a provider of residential real-estate financing for young professionals, has raised €15 million, with the aim of financing €50 million worth of transactions each month in France and Europe.
Virgil is targeted at young working professionals, offering a financial contributions of up to €100,000 to help them reach their home ownership dream. In exchange for an investment of 10% of the price, Virgil buys 15% of the apartment and is paid when the apartment is resold.
Since its launch three years ago, Virgil has already financed €50 million of real estate in Paris and supported 10,000 people in their projects.
"We are developing a groundbreaking solution that meets the expectations and needs of both young active people and investors," explain Saskia Fiszel and Keyvan Nilforoushan, Virgil’s two co-founders.
The new round of financing, which combines venture capitalists and real estate investors, includes support from its historical investors, Alven, LocalGlobe, and Evolem, as well as from new investor Global Founders Capital. Other investors include family offices such as Aquasourca, and business angels such as Clément Alteresco of Morning, Emmanuel Amon from Pegasus, and Lendable's Victoria van Lennep.
Out of the €15 million raised, €7 million will be used to invest in real estate with co-buyers.