Virgil provides a co-investment model for home purchases, contributing up to €150,000 alongside buyers to eliminate the barrier of down payments. This approach allows individuals to acquire properties that meet their needs without the constraints of traditional financing, enabling them to build equity from day one.
Funding
$17.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many first-time homebuyers struggle to accumulate a sufficient down payment, preventing them from entering the property market and building equity. Traditional financing options often require substantial upfront capital, creating a significant barrier to homeownership, especially in competitive urban areas.
Solution
Virgil offers a co-investment model that provides up to €150,000 in shared equity to help buyers overcome the down payment hurdle. Unlike a traditional loan, Virgil invests alongside the buyer, enabling them to purchase a home that meets their needs without incurring debt or monthly payments. In exchange for its investment, Virgil receives a proportional share of the property's appreciation upon sale, aligning its interests with the homeowner's success in building long-term wealth. This approach allows individuals to acquire properties sooner and begin building equity from day one.
Target Audience
Virgil primarily targets first-time homebuyers, particularly those in major French cities, who have sufficient income to cover mortgage payments but lack the necessary down payment to purchase a home.
Features
- Co-investment of up to €150,000 to supplement the buyer's down payment
- Shared equity model with no monthly payments or interest charges
- Alignment of interests: Virgil benefits only when the homeowner's property appreciates
- Assistance in evaluating the financial viability of the property purchase
- Support throughout the home buying process, from initial budgeting to final signature