Villyz is the name of the new French startup founded, among others, by three former members of the ACPR (Autorité de contrôle prudentiel et de résolution). Between the fintech and govtech model, the platform wants to combine bank and citizen financing to fund projects of general interest to communities. Its launch is scheduled for October.
“The platform was created during the Corona crisis, with the desire to give meaning and impact to French people’s savings. As a citizen, it is difficult to know what your money is being used for, when many people want to invest in projects with a local impact,” said Arthur Moraglia, co-founder of Villyz.
If you want to read more about the fintech company Villyz which will soon be launched in France and to be the first to read the most important financial headlines of the moment, download for free the Born2Invest mobile app.
Villyz will finance projects via interest-bearing loans to local authorities
In concrete terms, the French company will be able to finance projects via interest-bearing loans to local authorities or public bodies. The rate is set by the local authority and must be at least twice that of the Livret A passbook savings account, i.e. 1%. “Citizen investment in Villyz is reliable, profitable and has a strong local impact,” said the former ACPR fintech expert.
The platform wants to enter a niche that it considers promising: the local authority financing market, which has not been “really” penetrated by fintech companies, said Arthur Moraglia. “The only way to accompany the transformation of this market by bringing innovation to it is to work in close cooperation with banking players,” the entrepreneur pointed out.
For the latter, the banks “wish to move towards a better standardization of credit contracts for local authorities, in order to concentrate on certain operations with high added value.” They will be able to either have direct access to local authorities that make their financing requests on the Villyz platform, or offer their current customers the possibility of including a share of citizen financing in their next financing.
Founded last March, Villyz is about to complete its first round of financing. In order to be remunerated, it will take a small margin on bank intermediation when local authorities finance themselves directly via Villyz or on citizen financing “when we carry out this activity for the customers of a partner bank. It is through the volume effect that we aim to become profitable,” said Arthur Moraglia.
In order to operate, the fintech company will rely on the authorization of intermediary in banking operations and payment services (IOBSP) and intermediary in participative financing (IFP), a model recently allowed by the entry into force of the Pact law.
Located in the 14th arrondissement of Paris, far from the hustle and bustle of the Palais Brogniart’s fintech events, the startup intends to quickly make a name for itself. Although its model is unique, it will nevertheless have to face competition from existing players, such as the crowdlending platform Lendopolis.
Along with the assurtech company Seyna, Villyz is one of the few French fintech companies founded by former ACPR members. The team, currently made up of six people, including Arthur Moraglia for strategy and development, Sylvain Peyron for finance and data and Anne-Sophie Lawniczak for legal and regulatory aspects, is set to grow rapidly.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in L’AGEFI, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Bitcoin News: El Salvador Residents Protest Against Bitcoin
Already after the announcement to introduce Bitcoin as a means of payment, the first opinion polls in the country showed...
About $4.5 Million to Facilitate Access to the Dry Port of Bobo-Dioulasso
The launch of the project to rehabilitate, develop and asphalt the access roads to the dry port of Bobo-Dioulasso and...
A Look at the Periods of Extreme Market Volatility
One theme I’m constantly dwelling on is; NYSE bull markets are quiet markets, same for the NASDAQ. That’s not saying...
Is Augmented Reality (AR) the Best Thing to Happen to Education? Yes, it is!
Augmented Reality has arrived with much fanfare, particularly in the educational market. However, prior experience has shown that technology doesn’t...
Why Gold Continues to Struggle
Market just continues on higher with more new all-time highs. Risk stocks continue to rise. Even the DJI eked out...
Crypto7 days ago
Canada Continues to Embrace Cryptocurrencies
Africa7 days ago
Grifols Continues to Grow in Africa and Will Build a Plant in Nigeria
Featured7 days ago
Valsabbina Bank Invests in BorsadelCredito, Fintech Platform Leader in P2P Lending to SMEs
Featured7 days ago
Rice Futures Had a Good Week