Walliance cemented its future in Europe. The real estate financing platform has purchased Lymo Finance, the first crowdfunding platform founded in France in 2013, which has raised €50 million in investment, according to the company statement.
With the operation in which the co-founder of Lymo, Jean-Bapstiste Vayleaux, has been appointed head of development for the group’s French market, Walliance acquires a company that has a strong presence in the French market and a track record of more than one decade.
Therefore, after the launch of Walliance in Spain, which took place this year with a promotion in Tarragona, this acquisition represents a move with which the company will be able to strengthen its position in the real estate crowdfunding sector in Europe.
Read more about the acquisition of Lymo Finance by Walliance and find the most important financial news of the day with the Born2Invest mobile app.
Walliance received authorization to operate in France, in 2020
With the incorporation of Lymo Finance into Walliance, the group consolidated more than €160 million transacted, around 98,000 registered users, and more than 8,000 investors who carried out a total of more than 41,500 investment operations.
In January 2020, Walliance became the first Italian portal to receive authorization to operate in France.
In addition, Walliance has recently obtained the European license with which Spanish investors will be able to invest in platform projects in Spain, Italy, and France; in addition to the license in Italy as a securities company, which opens a source of income with which you enhance the company.
Walliance CEO Giancomo Bertoldi said: “We are delighted to welcome Lymo Finance to our group, a company that shares our vision of democratizing real estate investment through technology.”
“Lymo has been a pioneer in the French market and will provide our group, after the incorporation, with a profound evolution of our business in the local market; has always operated in the lending crowdfunding segment, it will be possible to transfer a considerable wealth of knowledge related to this investment and financing product,” concludes Bertoldi.
Walliance’s commitment to Spain coincided with the launch of the platform’s first campaign in France, with a project on Rue Marcadet in Paris. In January 2020, Walliance became the first Italian portal to receive authorization to operate in France.
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First published in EjePrime, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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