Lymo Finance, the world’s first real estate crowdfunding platform, is now owned by Walliance, another real estate crowdfunding platform based in Italy, according to an announcement.
Walliance said the acquisition is part of its expansion plans in the European market. Lymo, which has an investment collection of more than €50 million, has a strong presence in the French market and a decade-long track record of success. Financial details of the deal were not disclosed.
This acquisition represents an important strategic move for Walliance, enabling the company to gain faster access to both the highly competitive and complex French market and the consolidated European market more generally, per the announcement.
“We are thrilled to welcome Lymo Finance, a company that shares our vision of democratizing real estate investment through technology, to our group,” said Walliance CEO Giacomo Bertoldi.
Lymo has been a pioneer in the French market and will bring within our group, following incorporation, a profound evolution of our business in the local market.
Equally relevantly, considering that Lymo 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.
“This transaction allows us to further extend investment opportunities and expand the range of real estate projects in Europe, providing investors with a broader spectrum of opportunities,” Bertoldi added.
Through the incorporation of Lymo Finance into Walliance, the group consolidates more than 160 million euros transacted, about 98,000 registered users, and more than 8,000 investors who made a total of about 41,500 investment transactions.
Progressively, all transactions submitted on Lymo will be made available on the Walliance portal where French investors will be greeted by an assisted account migration process.
Investors will thus have access to a very wide range of investments and be able to build a diversified portfolio of real estate investments, in two of the most dynamic and promising markets in Europe.
In fact, France and Italy are the first and fourth largest target markets in Europe, respectively.