Baltis

Baltis is a French crowdfunding platform based in Paris. The operating company, BALTIS SAS, was registered in 2015 under the name Agora Capital; its founder is Alexandre Toussaint, and the first deal followed in April 2016. Most offers are bonds that finance property projects in France, such as buying, renovating and reselling buildings, new developments and land, usually for 6 to 24 months; some deals were in Spain. Baltis also lists fractional shop premises under the name Puzzle, whose bonds pay monthly coupons out of the rent, as well as shares in start-ups and small companies, renewable energy bonds and club deals. Funds (such as SCPI) and life insurance on the same site come from the sister company Baltis Patrimoine, a registered financial adviser, and fall outside the crowdfunding licence. The AMF authorised BALTIS on 9 November 2023 as a European crowdfunding service provider under licence FP-2023-30, to place shares and bonds. It has no passport, so the licence covers France only. The minimum is €100 per project. Depending on the project, interest comes at maturity or as coupons during the term and the capital at the end, and the security differs too: a first-rank mortgage, a security trust (fiducie-sûreté), a personal guarantee or a pledge on shares. Investors pay an entry fee of 0 to 5% depending on the offer, project owners 6 to 10% plus VAT. Baltis withholds French tax on interest at source. Projects marked as eligible can be held in a PEA-PME; the subscription then goes through the bank that holds the plan. Payments run through the payment institution Lemonway, for which Baltis is a registered agent. In 2022 Baltis bought the Nantes crowdfunding platform Proximea and merged it into BALTIS in February 2024. Bonds cannot be resold before maturity: there is no secondary market and no buyback guarantee.