Virgil

About Virgil

Virgil SAS, operating under wearevirgil.com, is a Paris-based financial services company founded in 2018 by Saskia Fiszel and Keyvan Nilforoushan. The founders identified a significant barrier to homeownership for young professionals, which they term the "stone ceiling," while working together at the high-end hospitality startup onefinestay. Fiszel was part of the core team that developed onefinestay across Europe, and Nilforoushan served as its Deputy CEO before its acquisition by AccorHotels. This experience with a demographic of young, well-paid professionals who still struggled to purchase property in major cities directly inspired Virgil's mission.

The company positions itself as a co-investing partner for first-time homebuyers, primarily targeting young professionals in France. Instead of providing a traditional loan, Virgil invests equity alongside its clients, contributing up to €100,000 to supplement their initial deposit. This capital injection enables buyers to afford larger properties, in better locations, or to finance necessary renovations without depleting their savings. The service is designed for individuals who have a stable income and borrowing capacity but lack the substantial down payment required in expensive urban real estate markets. Virgil's support extends beyond capital, offering expert guidance throughout the entire acquisition process, from financial planning to securing a mortgage with partner banks.

Virgil's business model is based on shared appreciation. The company does not charge rent or monthly fees. Upon the sale of the property, Virgil recovers its initial investment plus a predetermined share of the sale price. For example, a 10% contribution might result in Virgil receiving 15% of the property's sale value. Homeowners have the flexibility to sell their property at any time or to buy out Virgil's stake after a ten-year period. Since its inception, the company has financed over 100 million euros in real estate projects and has secured significant venture capital funding, including a Seed round of €2.1 million in 2019 and a Series A round of approximately $15.5 million in 2022, with backing from investors such as Alven, LocalGlobe, and Global Founders Capital.