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Short answer
ClubFunding is a French platform authorised by the AMF that offers real estate debt from €1,000 and publishes a pre-tax IRR of 9.95%. It is not in the Spanish register of crowdfunding service providers, but it is on the CNMV list of European providers (No. 17). Reental offers tokenised stakes in property projects from €100, is on neither list, and an exit depends on another user buying. Neither guarantees your capital, and their returns are not comparable.
Platform data reviewed on 3 November 2026 (CNMV list of European providers re-read on 4 November). Reental figures as of 4 November 2026, provided by the company. Reental is one of the two parties compared and therefore an interested party: every figure carries its source and date, and we say what we could not check. This page does not recommend one platform over the other. Quotations from Spanish-language sources are our translation.
What is ClubFunding and who authorises it?
ClubFunding is a French-born platform that specialises in loans to property developers. Its Spanish-language website offers real estate debt (through a crowdfunding service provider), real estate offers and structured products; Finect adds equity projects and dates its arrival in Spain to 2023. The website attributes the authorisation from the AMF, the French regulator, to ClubFunding Asset Management. The CNMV list of European providers offering services in Spain records CLUBFUNDING SAS, from France, as No. 17, dated 15 December 2023 (consulted on 4 November 2026). We have not been able to check how those two names relate to each other, and the website does not cite Regulation (EU) 2020/1503.
The minimum investment is €1,000, paid by bank direct debit, according to the website (3 November 2026). It states that it charges no entry, arbitrage or contribution fees. Its risk warnings say that returns are not guaranteed and that capital can be lost in whole or in part, and that there is liquidity risk, and they refer to an investor information document (FICI) to be read before investing.
What a foreign platform means if you invest from Spain
ClubFunding is not in the Spanish PSFP register, which covers Spanish entities. That is not an anomaly in itself: platforms from other EU countries can offer services in Spain, and the CNMV publishes a separate list. Finect describes its position inconsistently (as regulated by the AMF and, in another table, as "not regulated as a crowdfunding platform"), so we do not use that outlet as a source on its regime.
In practice, someone investing in ClubFunding is under the authorisation and supervision of the French regulator, not the Spanish one. Check the name of the contracting entity, its authorisation on the AMF register and the information document for each offer. On tax, we have not been able to verify whether investing through a foreign platform requires reporting on Spain's Form 720 or under what conditions; the website does not detail the tax treatment, and the IRR it publishes is before tax. Consult a tax adviser.
What is Reental and what is its legal framework?
Reental tokenises property projects and each token is worth €100. According to its FAQ, in the US it tokenises interests in an LLC that owns the property, and in Spain, tokenised securities representing credit rights under a participating loan. Returns are paid monthly in USDT, with an option to reinvest (reental.co).
Reental is not a crowdfunding platform authorised by the CNMV and does not appear in its register of crowdfunding service providers (checked on 3 November 2026). According to the company's legal documentation, its product does not require that authorisation. This means that investors do not have the specific safeguards of Regulation (EU) 2020/1503 (for example, the knowledge test, the loss simulation and the reflection period), and that their holding is not backed by any crowdfunding supervisor.
According to the data Reental provided (4 November 2026), the minimum investment is €100 and the average historical IRR is 16.5%. It has tokenised a cumulative total of about €106.9 million (approx. $124M) across 128 projects. Of these, 77 are current and total about €87M (approx. $101M): 50 operating, 20 under renovation, 6 under construction and 1 in funding (Miami 7, with $1.19M of $2M, or 59.7%). The other 51 are closed and total about €19.9M. Reental declares that it has no public incidents. These are company data, not audited by third parties.
ClubFunding and Reental side by side
The table shows what each one publishes, with dates. The figures are not measured in the same way, so we do not subtract one from the other.
| Aspect | ClubFunding | Reental |
|---|---|---|
| What you buy | Real estate debt through a crowdfunding service provider, real estate offers and structured products, according to its website. Finect adds equity. | Tokens representing stakes in property projects. In the US, interests in an LLC that owns the property; in Spain, tokenised securities representing credit rights under a participating loan (Reental FAQ). |
| Minimum investment | €1,000 (website, 3 November 2026). | €100 (1 token = €100), according to Reental, 4 November 2026. |
| Published return | IRR of 9.95% before tax on financings fully repaid since 2015, as of 30 April 2026 (website). Finect reports a target of 10% to 15% a year "according to the company". | Average historical IRR of 16.5%, declared by Reental as of 4 November 2026. Estimated per project: 9.5% to 12% a year on the cards visible at reental.co/properties on 3 November 2026. Measures of a different nature from those of ClubFunding. |
| Payout of returns | Monthly or quarterly on most products, according to its website; not guaranteed. | Monthly, in USDT, with an option to reinvest. |
| Term | According to Finect, 6 to 24 months for debt and 24 to 36 months for equity. The website does not state them. | Depends on the project. One website example: 8 months for Madrid 7. |
| Default or late payment published | Does not publish a default rate on its website. | Reental declares that it has no public incidents (4 November 2026). We have not found a default table in the pages reviewed. |
| Fees to the investor | No entry, arbitrage or contribution fees, according to its website. | See reental.co |
| Legal framework | Authorised by the French AMF. Not in the Spanish PSFP register; it is on the CNMV list of European providers (No. 17, 15 December 2023). | Reental is not a crowdfunding platform authorised by the CNMV and does not appear in its register of crowdfunding service providers (checked on 3 November 2026). According to the company's legal documentation, its product does not require that authorisation. This means that investors do not have the specific safeguards of Regulation (EU) 2020/1503 (for example, the knowledge test, the loss simulation and the reflection period), and that their holding is not backed by any crowdfunding supervisor. |
| Capital guarantee and risk warnings | Its website says returns are not guaranteed and warns of capital loss and liquidity risk. | No guarantee appears in the pages reviewed. Its risk warning refers to total or partial loss of capital. |
| Exit before maturity | No secondary market is mentioned on its website or by Finect. | Direct sale to another user on the platform. Not guaranteed: it depends on there being a buyer. |
| Scale | We do not give one: the volume figures on its website do not reconcile with those of other sources. | About €106.9M (approx. $124M) tokenised across 128 projects: 77 current (about €87M) and 51 closed (about €19.9M), according to Reental as of 4 November 2026 (self-declared). |
What the ClubFunding 9.95% includes, and why it is not compared with Reental's 16.5%
The note on its website defines the 9.95% IRR as the internal rate of return, before tax, on financings fully repaid since 2015, as of 30 April 2026, made through the crowdfunding provider (real estate debt) or through funds managed by ClubFunding Asset Management. In other words, it mixes two channels and, by construction, leaves out whatever is still open or has not been repaid. It adds that past performance does not guarantee future results. The 10% to 15% a year reported by Finect is a target from the company, not a result.
Reental declares an average historical IRR of 16.5% (4 November 2026). It is a figure from the company itself, and it has not specified whether it is gross or net. ClubFunding's is before tax and covers a different set of operations, so we do not put the two side by side or calculate a difference. Neither publishes a uniform net return that includes defaults and pending projects.
Why we do not give ClubFunding volume figures
Its website shows a figure for capital invested without explaining the unit or the basis, and a figure for investors. Other sources cite volumes of a different order of magnitude, some at group level rather than platform level. We have not been able to reconcile them, and repeating one of them would be choosing without a basis. If volume matters to you, ask ClubFunding for a figure broken down by channel (provider, funds) and by country, with a cut-off date. For Reental we do give the scale, because the company supplied it with a date; it appears in the section above.
Payments, terms and exit
At ClubFunding, according to its website, most products pay monthly or quarterly, without a guarantee. According to Finect, debt lasts 6 to 24 months and pays monthly coupons, and equity lasts 24 to 36 months and pays at maturity. Neither the website nor Finect mentions a secondary market, so the reasonable assumption is that capital is tied up until maturity.
At Reental you can try to sell your tokens to another user on the platform, but nothing guarantees a buyer, a price or a timeframe. The website advertises selling around the clock on a P2P marketplace, but on 3 November 2026 the "P2P Marketplace" menu link did not lead to any page. Money you may need in the next two years does not fit well with either.
Which investor each platform suits
Neither wins on every point, and this is not a personal recommendation. ClubFunding suits you if you want real estate debt with periodic payments, from €1,000, and you accept that the platform is under French supervision, that it does not publish a default rate, that no secondary market is mentioned, and that its IRR is historical and pre-tax. Reental suits you if you are interested in a tokenised stake from €100, with monthly payments in USDT, and you accept that its legal framework is not that of a crowdfunding service provider, that liquidity depends on another user buying, and that its average historical IRR cannot be compared with that of ClubFunding.
The two can sit in the same portfolio, each with an amount you are prepared to lose in full. For the whole market, read the best real estate crowdfunding platforms. To compare Reental with a loan platform registered in Spain that publishes a default table, see Reental vs Civislend, and for another with several product lines, Reental vs Wecity.
Frequently asked questions
What is the difference between Reental and ClubFunding?
ClubFunding is a French platform authorised by the AMF that mainly offers real estate debt from €1,000, with monthly or quarterly payments. It is on the CNMV list of European providers (No. 17). Reental offers tokenised stakes in property projects from €100, with monthly payments in USDT and direct sale to another user on the platform, and it is on neither that list nor the PSFP register.
Is ClubFunding reliable?
Its website says it is authorised by the AMF, and it has been on the CNMV list of European providers since 15 December 2023. It does not publish a default rate, and its volume figures do not reconcile with those of other sources. It warns that returns are not guaranteed and that capital can be lost in whole or in part. The reliability of each investment depends on the offer and cannot be certified.
Is ClubFunding regulated in Spain?
It is authorised by the AMF, the French regulator. It is not in the Spanish PSFP register, which covers Spanish entities, but it is on the CNMV list of European providers offering services in Spain (No. 17, 15 December 2023). The website attributes the AMF authorisation to ClubFunding Asset Management and the list records CLUBFUNDING SAS; we have not been able to check how they relate.
What return does ClubFunding publish?
Its website shows an IRR of 9.95% before tax on financings fully repaid since 2015, as of 30 April 2026. Finect reports a target of 10% to 15% a year according to the company. The average historical IRR of 16.5% that Reental declares is of a different nature and is not directly comparable.
What is the minimum investment at Reental and at ClubFunding?
At Reental, €100 (1 token = €100), according to the company. At ClubFunding, €1,000 according to its website (3 November 2026). Some press headlines mention €100 for ClubFunding, but it does not appear on its website.
Does ClubFunding charge fees to the investor?
Its website states that there are no entry, arbitrage or contribution fees. It does not state other costs.
What products does ClubFunding offer?
According to its website, real estate debt through a crowdfunding service provider, real estate offers and structured products. Finect adds equity projects, with terms of 6 to 24 months for debt and 24 to 36 months for equity. Read the documentation for each offer, because the risk changes with the product.
Can I sell my investment before maturity at ClubFunding or Reental?
At ClubFunding no secondary market is mentioned, either on its website or by Finect. At Reental you can sell to another user on the platform, but a buyer, price and timeframe are not guaranteed, and its risk warning refers to the lack of liquidity.
Do I have to report an investment in a foreign platform such as ClubFunding?
We have not been able to verify whether investing through a foreign platform requires Form 720 or under what conditions, and the ClubFunding website does not detail the tax treatment. Consult a tax adviser before investing. Reental does not provide tax advice.
Is Reental authorised by the CNMV like ClubFunding?
Not in the same way. ClubFunding is authorised by the French AMF and is on the CNMV list of European providers (No. 17). Reental is not a crowdfunding platform authorised by the CNMV and does not appear in its register of crowdfunding service providers (checked on 3 November 2026). According to the company's legal documentation, its product does not require that authorisation. This means that investors do not have the specific safeguards of Regulation (EU) 2020/1503 (for example, the knowledge test, the loss simulation and the reflection period), and that their holding is not backed by any crowdfunding supervisor.
Risk warning
Investing in real estate loans or stakes can mean the total or partial loss of your capital, a lack of liquidity and not achieving the expected return. Past returns do not guarantee future ones. Neither ClubFunding nor Reental offers a capital guarantee, and this page is not financial, tax or legal advice: consult a professional before investing. Reental is one of the parties compared in this text. Reental's figures are data provided by the company (4 November 2026); third-party figures are self-declared by each platform or come from the press, and are subject to change.
Sources
- ClubFunding, Spanish-language website (2026-11-03 (re-read on 2026-11-04)): Minimum €1,000, IRR 9.95% before tax as of 30-04-2026, no entry, arbitrage or contribution fees, AMF authorisation of ClubFunding Asset Management, monthly or quarterly payments, risk warnings and FICI.
- CNMV, European crowdfunding service providers (2026-11-04): CLUBFUNDING SAS, France, No. 17, 15/12/2023.
- CNMV, register of crowdfunding service providers (2026-11-03): ClubFunding and Reental do not appear.
- Finect, best real estate investment platforms (2026-11-03 (re-read on 2026-11-04)): Debt and equity, arrival in Spain in 2023, target 10% to 15%, terms of 6 to 24 and 24 to 36 months, inconsistent description of its regime.
- Reental, FAQ (2026-11-03): Structure, liquidity, payments.
- Reental, projects (2026-11-03): Estimated returns per project.
- Reental, home page (2026-11-03): Monthly payments in USDT.
- Reental, data provided by the company (2026-11-04): €100 minimum, average historical IRR 16.5%, €106.9M across 128 projects, 77 current, 51 closed, no public incidents declared.
