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Short answer. Raizers lends money to property developers with repayment at maturity, holds a French AMF licence (FP-2023-5), and appears in the CNMV list of European providers, but not in the Spanish register of crowdfunding service providers (PSFP). Reental offers tokenised stakes from €100, does not appear in that Spanish register, and an exit depends on another user buying. Raizers publishes targets of 8% to 12% a year, with no realised IRR and no default rate; Reental declares an average historical IRR of 16.5%. Neither guarantees your capital.
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 publishes this page and is one of the two parties compared, which makes it an interested party. That is why every figure carries its source and date, and why we say what we could not check. Quotations from French and Spanish sources are our translation.
What is Raizers?
Raizers is a French investment platform whose property crowdfunding line lends money to developers. According to its property crowdfunding page, the investor finances a construction, renovation or development project alongside bank financing and gets the capital back in a single payment at maturity (bullet repayment, or in fine), over terms of 12 to 36 months. It is debt: there is no ownership stake in the property.
The company is Raizers SAS. Its website also sells other savings products (life insurance with Generali, SCPI property funds, ETFs and structured products), which we do not cover here. It declares about €460 million invested since 2014 across more than 465 operations, more than 50,000 members and about €60 million of interest paid on property debt projects already repaid (raizers.com, 3 November 2026). These figures are self-declared.
In Spain, the website lists nine projects (Madrid, Córdoba, Tenerife, Barcelona and Navarre). When we re-read it on 4 November 2026 all of them showed as already funded, so check which project is actually open before comparing anything.
How Raizers is authorised and where it appears in Spain
Raizers SAS presents itself as a crowdfunding provider approved by the AMF, the French financial regulator, under number FP-2023-5. It is not in the Spanish register of crowdfunding service providers (PSFP) kept by the CNMV, which covers platforms registered in Spain. It is in the CNMV list of European providers as no. 6, with a start date of 20 June 2023 (re-read on 4 November 2026). That is usual for a foreign platform operating on a European passport: the authorisation comes from its home regulator and the Spanish list records that it provides services here.
Its website does not cite Regulation (EU) 2020/1503 or explain what an investor resident in Spain sees (knowledge test, loss simulation, reflection period). It refers to the key investment information sheet (the French FICI) as a document to read before deciding, and we have not read one. We have not checked how those safeguards apply to a Spanish resident.
Reental's legal position is different. 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. It is a difference to keep in mind before comparing figures.
Reental vs Raizers, point by point
Raizers lends a developer an amount that is repaid at maturity. Reental distributes income from tokenised property projects, under a different legal framework and with an exit that is not guaranteed. The table shows what each publishes, with dates. The figures are not measured in the same way, so we do not subtract one from the other.
| Aspect | Raizers | Reental |
|---|---|---|
| What you buy | A loan to a property developer, with the capital repaid at maturity (Raizers website). | Tokens representing stakes in property projects. In the US, interests in an LLC that owns the property; in Spain, tokenised securities representing rights over a participating loan (Reental FAQ). |
| Minimum investment | €1,000 per listed project. The home page advertises entry from €100 (SmartInvest) (website). | €100 (1 token = €100), according to Reental. |
| Published return | Target of 8% to 12% a year on its card and 10.5% to 12% on Spanish projects. The home page does not say whether this is gross or net; its property crowdfunding page speaks of "gross" yields without defining them. It shows no realised IRR. | Average historical IRR of 16.5%, a figure 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. Different in nature from Raizers' figures. |
| Income payments | Single repayment at maturity (in fine). The pages we read do not detail the interest schedule. | Monthly, in USDT, with the option to reinvest (reental.co). |
| Term | 12 to 24 months on the listed projects; 12 to 36 months according to its property crowdfunding page. | Depends on the project. One example on the website: 8 months in Madrid 7. |
| Guarantees | "Possibly provided": a mortgage, the director's personal guarantee or a security trust (fiducie-sûreté), depending on the project. Its website calls developer default risk "limited, but it exists". | The FAQ gives no guarantee details by project; each project page describes its structure. |
| Published arrears or default | It publishes no arrears or default rate on its website. See the returns section. | Reental declares no public incidents (4 November 2026). We found no arrears table on the pages we reviewed. |
| Fees to the investor | No entry fees on property debt, according to its home page. We found no fee document. | See reental.co |
| Tax | Its website explains French taxation only. We have not checked withholding for residents of Spain. | 19% already applied for residents of Spain (website). |
| Legal framework | Approved by the AMF (FP-2023-5). CNMV list of European providers, no. 6 (20 June 2023). Not in the Spanish PSFP register. | 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. |
| Deposit or investment guarantee | Its website says the capital is not guaranteed. We saw no reference to a guarantee fund. | None found on the pages we reviewed. Its risk warning refers to total or partial loss of capital. |
| Exit before maturity | According to its website, there is generally no secondary market and the money is locked in until maturity. | Direct sale to another user on the platform. Not guaranteed: it depends on there being a buyer. |
| Who can invest | The pages we read do not describe the requirements for residents of Spain. | Any adult after KYC/AML. US tax residents: accredited investors only. |
| Scale (self-declared) | About €460 million across more than 465 operations since 2014 and more than 50,000 members (3 November 2026). | About €106.9 million (approx. $124 million) tokenised across 128 projects: 77 current (about €87 million) and 51 closed (about €19.9 million), according to Reental as of 4 November 2026. A different measure from Raizers'. |
What return does Raizers publish, and what is missing?
Raizers publishes targets, not results. It advertises 8% to 12% a year on the crowdfunding card on its home page and 10.5% to 12% on Spanish projects. The home page does not say whether this is gross or net. The property crowdfunding page speaks of "observed" and "gross" yields of 8% to 12% a year, without saying what is deducted to reach the net figure. We found no realised IRR for projects already repaid.
The €60 million of interest paid and the €460 million invested are cumulative totals. They do not allow a return to be calculated, because they do not say how many operations had delays, haircuts or losses, or over what periods. That is why we do not work out an implied rate.
It does not publish an arrears or default rate on its website either, and we have not located an official figure for mortgage enforcements or losses. Without that data, it is not possible to estimate how many of its loans have run into problems.
Reental declares an average historical IRR of 16.5% (as of 4 November 2026). It is the company's own figure and different in nature from Raizers' targets: it is a historical aggregate, not the advertised range of a loan. We do not say whether it is gross or net because the data supplied does not specify. That is why we do not set it beside Raizers' 8% to 12% or calculate a difference. Past returns are not a reliable guide to future ones.
Guarantees and default risk at Raizers
According to its website, the guarantees on its loans are "possibly provided": a mortgage, the director's personal guarantee or a security trust. They depend on each project, and we have not seen which applies to which, or their ranking or value. That detail would be in the key information sheet of each operation. The website itself says the developer's default risk is limited but real, that the capital is not guaranteed and that you should not lend more than you can afford to lose.
At Reental the risk depends on the structure of each project (property in the US, participating loan in Spain) and on a buyer turning up for your tokens. These are risks of a different kind and neither is covered by a public guarantee. For neither have we been able to measure the risk with a comparable arrears rate.
Terms, liquidity and tax
At Raizers the money is tied up until maturity, which is 12 to 24 months on the listed projects. Its property crowdfunding page says there is generally no secondary market. At Reental you can try to sell your tokens to another user on the platform (the home page talks about selling "24/7" in its P2P, and the FAQ spells it out as a direct sale), but nothing guarantees a buyer, a price or a timeframe. Money you may need in the next two years does not sit well with either.
On tax, Raizers' website explains the French regime only. We could not check the withholding or how the income is declared for a tax resident of Spain; ask an adviser. Reental states on its website that it applies 19% for residents of Spain.
Reental's portfolio as of 4 November 2026
According to the data Reental supplies, there are 77 current projects worth about €87 million (approx. $101 million). Of these, 50 are in operation, 20 under renovation, 6 under construction and 1 in funding: Miami 7, with $1.19 million raised of $2 million (59.7%). The 51 closed projects total about €19.9 million. Reental declares no public incidents. This is company data, not audited by third parties.
Raizers compared with Spanish debt platforms
If you want property debt from a platform on the Spanish register, the natural comparison is Civislend: it is listed as no. 8 in the PSFP register, asks for €250 per project, publishes an arrears table up to 2024 and an average return of 11.08% in 2025 (civislend.com, 3 November 2026). Raizers asks for €1,000 per project, publishes no arrears and is not on the Spanish register. The head-to-head with Reental is at Reental vs Civislend, and there is a wider overview in the best real estate crowdfunding platforms. Each platform defines its figures in its own way, so those numbers are not comparable as they stand.
Which investor suits each platform
Neither wins on every point, and this is not a personal recommendation. Raizers suits you if you want to lend to a developer with a single repayment at maturity, accept a €1,000 minimum per project and accept that it publishes no arrears or realised return, that the guarantee varies by project and that there will be no exit before maturity. Reental suits you if you are interested in a tokenised stake in property projects from €100, with monthly payments in USDT, and you accept that its legal framework is not that of a PSFP, that liquidity depends on another user buying and that its average historical IRR is not comparable with the target on a loan.
The two can sit in the same portfolio, each with an amount you are prepared to lose in full. Property investment may return neither the capital nor the expected yield.
Frequently asked questions
What is the difference between Reental and Raizers?
Raizers lends money to property developers with repayment at maturity, from €1,000 per project, and holds an AMF licence in France. Reental offers tokenised stakes in property projects from €100, with monthly payments in USDT and direct sale to another user on the platform. Raizers is in the CNMV list of European providers (no. 6). Reental does not appear in the CNMV PSFP register.
Is Raizers authorised to operate in Spain?
Raizers SAS is approved by the French AMF (FP-2023-5) and appears in the CNMV list of European crowdfunding service providers as no. 6, since 20 June 2023. It is not in the Spanish PSFP register, which covers platforms registered in Spain. It operates on a European passport and its home regulator is the AMF.
What return does Raizers offer?
It advertises 8% to 12% a year and 10.5% to 12% on its Spanish projects. These are targets: the home page does not say whether they are gross or net, and it shows no realised IRR. The 16.5% average historical IRR declared by Reental is different in nature and is not directly comparable.
What is the minimum investment at Reental and at Raizers?
At Reental, €100 (1 token = €100), according to the company. At Raizers, €1,000 per listed project; its home page advertises entry from €100 in SmartInvest.
What guarantees do Raizers loans have?
According to its website, guarantees are optional and depend on the project: a mortgage, the director's personal guarantee or a security trust. We have not seen which applies to each operation. The website warns that the capital is not guaranteed and that developer default risk exists.
Does Raizers publish its arrears rate?
Not on its website, and we have not located an official figure. Without a defined rate (period, scope, days late), it cannot be compared with other platforms.
Can I sell my investment before maturity at Raizers or Reental?
According to Raizers' website, there is generally no secondary market and the money is locked in until maturity. At Reental you can sell to another user on the platform, but there is no guarantee of a buyer, a price or a timeframe, and its risk warning mentions the lack of liquidity.
Does Raizers charge fees to the investor?
Its home page says there are no entry fees on property debt. We found no fee document detailing other possible costs, so check the terms of each operation before investing.
How is Raizers income taxed for a resident of Spain?
We could not check. Raizers' website explains French taxation only and does not detail withholding for residents of Spain. Ask a tax adviser before investing.
Is Reental authorised by the CNMV like Raizers?
Not in the same way. Raizers is in the CNMV list of European providers as no. 6, under an AMF licence. 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 property loans or stakes can mean losing all or part of your capital, a lack of liquidity and not obtaining the expected return. Past returns do not guarantee future ones. Neither Raizers 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 supplied 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
- Raizers, home page (2026-11-03): Minimum €1,000 (€100 in SmartInvest), target 8-12%, 10.5-12% in Spain, terms of 12 to 24 months, €460 million across more than 465 operations, AMF FP-2023-5, nine projects in Spain.
- Raizers, property crowdfunding (2026-11-04): How it works, bullet repayment, 12 to 36 months, optional guarantees, gross yields, no secondary market, French taxation.
- CNMV, PSFP register (2026-11-03): Raizers and Reental are not listed.
- CNMV, European crowdfunding service providers (2026-11-04): Raizers SAS, no. 6, start 20/06/2023.
- Civislend, home page (2026-11-03): Minimum €250, average return 11.08% in 2025, register no. 8.
- Regulation (EU) 2020/1503 (EUR-Lex) (consolidated text): European crowdfunding framework.
- Reental, FAQ (2026-11-03): Structure, KYC, liquidity, payments.
- Reental, projects (2026-11-03): Estimated returns by project.
- Reental, home page (2026-11-03): Monthly USDT payments, 19% withholding tax.
- 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.
