Best private debt platforms to invest in France in 2026

In a nutshell:

1. Five main platforms give retail investors access to private debt in France: Fundora, October, ClubFunding, Lendopolis and Mintos. Entry tickets range from 20 to 1,000 euros, target yields from 4 to 13.5 percent per year.
2. Fundora stands out with a 100 euro ticket, an FPCI structure coupled with an SPV, and management under mandate by Kyoseil Asset Management, an asset management company licensed by the AMF (number GP-99040). Four private debt strategies: Oceanie Growth Credit (9 to 13.5 percent), Intercontinental Debt (10.7 to 11.7 percent), Private Core Credit (9 to 11 percent), Fintech Yield.
3. October and Lendopolis offer the lowest tickets (20 euros) with direct exposure to SME crowdlending or renewable energy projects, but with lower yields (2 to 8 percent) and risk concentrated on each loan.
4. ClubFunding targets French SME bonds with a 1,000 euro ticket and a target yield of 8 to 10 percent. Mintos provides access to European consumer loan receivables under a Latvian regulatory framework.

Comparison of private debt platforms in France

This comparison uses seven objective criteria to evaluate the main private debt platforms for retail investors: entry ticket, type of exposure, legal structure, regulatory supervision, target yield, diversification and duration. Each platform addresses a distinct logic, from direct crowdlending to mutualised institutional funds.

Understanding private debt and why it matters for retail investors

Private debt refers to financing granted to non-listed companies, outside the traditional banking system and public bond markets. It takes the form of direct loans, non-listed bonds, senior secured financing, mezzanine or unitranche debt. According to Preqin, global private debt assets reached 1.7 trillion dollars in 2024, up from 280 billion in 2007, a six-fold increase in fifteen years.

For a retail investor seeking to diversify, private debt offers three features. The potential yield ranges from 6 to 13 percent per year depending on the strategy. Volatility is generally lower than for listed bonds. And correlation with equities remains low. As is the case for funds enabling individuals to invest in private equity as a beginner, this asset class was until recently reserved for institutional investors (insurers, pension funds, family offices), with entry tickets between 200,000 and 1 million euros per fund. The emergence of specialised platforms has opened this market to retail investors.

The main forms of private debt accessible to retail investors

• Institutional private debt (via FPCI): mutualised access to professional private debt funds, target yield 8 to 13 percent per year, duration 5 to 8 years.
• SME crowdlending: direct loan to a company, target yield 2 to 8 percent per year, duration 3 to 60 months.
• SME bonds: purchase of bonds issued by non-listed SMEs or mid-cap companies, target yield 7 to 10 percent per year, duration 12 to 36 months.
• European consumer P2P: securitised consumer credit receivables, target yield 9 to 12 percent per year, duration 1 to 36 months.

Fundora, private debt platform accessible from 100 euros

Fundora is a French platform that gives retail investors access to private equity and private debt strategies historically reserved for institutional investors. The platform is operated by Fundora SAS (REGAFI 745649) and Fundora Conseil (CIF, ORIAS 25001125). Fund management is carried out by Kyoseil Asset Management, a portfolio management company licensed by the AMF under number GP-99040, under a management mandate.

Access is provided through an FPCI structure (Professional Private Equity Fund) coupled with an SPV (Special Purpose Vehicle). This mechanism pools subscriptions from multiple retail investors within a single structure, which then invests in target funds. It lowers the FPCI minimum ticket to 100 euros, while institutional funds typically require 200,000 to 1 million euros directly. For a comparison of similar vehicles’ minimum thresholds, see the FCPR FCPI minimum ticket.

The four private debt strategies available at Fundora

Key features of Fundora

• Entry ticket: 100 euros, one of the lowest on the market for institutional private debt exposure
• Vehicle: FPCI managed under mandate by Kyoseil Asset Management (AMF licence GP-99040)
• Mechanism: SPV that pools subscriptions and gives access to funds reserved for institutionals
• Quarterly reporting via the dedicated investor platform
• Compliance: AML/KYC verification by Onfido, payment partner Memo Bank (credit institution licensed by the ACPR)

Comparative analysis of the other platforms

The four other platforms in the comparison address different investment logics. Understanding these differences helps build a coherent allocation.

October, SME crowdlending

October is the historical crowdlending player in France and Europe (formerly Lendix, launched in 2014). The platform, IFP-licensed by the ACPR, offers an entry ticket from 20 euros to lend directly to SMEs. Target yields range from 2 to 8 percent depending on borrower risk profile. Risk is concentrated on each loan: an investor must diversify across dozens of loans to smooth default risk. Loan duration ranges from 3 to 60 months.

ClubFunding, French SME bonds

ClubFunding specialises in French SME bonds and real estate. The platform holds the PSFP status issued by the AMF, required for crowdfunding since November 2023. The entry ticket is higher, from 1,000 euros, but the target yield ranges between 8 and 10 percent per year, with a duration generally between 12 and 36 months. ClubFunding is one of the platforms close to the real estate crowdfunding model, with exposure heavily focused on the French market.

Lendopolis, renewable energy

Lendopolis, a subsidiary of La Banque Postale, focuses on financing the energy transition: renewable energy projects (wind, solar, biomass) and sustainable real estate. PSFP status. Entry ticket of 20 euros, more modest target yield of 4 to 7 percent per year, but with a commitment duration of 24 to 60 months. The platform appeals to investors sensitive to environmental impact.

Mintos, European consumer P2P

Mintos is a pan-European platform based in Latvia, licensed as an investment firm by the Bank of Latvia. It gives access to securitised consumer credit receivables across Europe (notes backed by receivables). The entry ticket is 50 euros, the target yield 9 to 12 percent per year, with a flexible duration of 1 to 36 months. The regulatory framework is specific: investors must accept structured products under Latvian law.

“In 2024, private debt raised more than 200 billion dollars worldwide. Yields observed on private debt funds range between 8 and 12 percent per year, with volatility lower than listed bonds.” Preqin, Global Private Debt Report, 2024

Key figures of the private debt market in 2024

• 1.7 trillion dollars: global private debt assets under management in 2024 (Preqin).
• 200 billion dollars: amount raised by private debt funds globally in 2024 (Preqin).
• 9 to 12 percent: annual yield observed on top-tier private debt funds.
• 200,000 to 1,000,000 euros: usual direct entry ticket on institutional private debt funds.
• 100 euros: mutualised entry ticket via Fundora (FPCI).
• x6: growth of the global private debt market between 2007 and 2024.

“The European private debt market now exceeds 400 billion euros of assets under management. Retail investors represent a growing share of the collection, driven by specialised platforms and democratisation-eligible vehicles.” France Invest, Activity of French private equity players, 2024

Which private debt platform for which profile?

Platform choice depends on three variables: available capital, investment horizon and desired level of involvement in selecting individual lines.

Beginner retail investor (capital 1,000 to 10,000 euros)

For a first step in private debt, entry ticket and selection quality are key. Fundora is suited from 100 euros, with selection already carried out and multi-strategy diversification by FPCI design. October works for testing pure crowdlending on small lines, keeping in mind the need to diversify across dozens of loans to smooth risk.

Experienced investor (capital 10,000 to 100,000 euros)

The objective becomes diversification across multiple supports. The combination of Fundora (institutional private debt FPCI) and ClubFunding (French SME bonds) combines exposure to institutional funds and the French real economy. Mintos can add a layer of European consumer receivables, subject to accepting the Latvian regulatory framework.

High-net-worth investor (capital over 100,000 euros)

The challenge is allocation. Fundora provides access to institutional private debt without having to commit the 200,000 to 1 million euros ticket required by direct funds. The FPCI structure is compatible with a long-term holding logic (5 to 8 years) and complements an existing allocation in private equity, real estate and listed equities. The platform sits within a broader ecosystem of AI investment platforms and unlisted asset offerings now available to retail investors.

How to choose your private debt platform

Four criteria structure the choice of a private debt investment platform:

• Regulatory status: verify that the platform or the asset management company operating the funds holds an AMF or ACPR licence, or PSFP status. This is the minimum guarantee of a supervised framework.
• Legal structure of the vehicle: FPCI, FCPR, SME bonds, asset-backed notes, direct loan. Each form has its own tax, liquidity and risk implications.
• Diversification offered: a single loan exposes entirely to borrower default, while a diversified fund mutualises that risk across dozens or hundreds of underlying assets.
• Reporting transparency: frequency, level of detail on underlying assets, performance indicators.

Mistakes to avoid

1. Concentrating capital on a few unit receivables instead of diversifying across dozens of lines or via a fund.
2. Confusing target yield with realised yield. The target yield is never guaranteed.
3. Overlooking lock-up duration: private debt is by nature illiquid. Do not allocate emergency savings to it.
4. Choosing a platform solely on advertised yield without verifying regulatory status and selection quality.

Frequently asked questions