Access to credit in France remains, in fact, deeply unequal. Among the dead angles of the banking system, the exclusion of the elderly constitutes a massive paradox, while 73 % of the over 60s are owners of their accommodation, many of them find themselves deprived of funding tools to adapt their habitat, support their families or preserve their autonomy. Jubilee, a mission company founded in 2022 intends to fill this void precisely with a product still very little distributed: the mortgage life loan.
This system, legal since 2006, allows seniors to monetize their real estate assets without selling their good or leaving their homes. Unlike the sale in life annuity, the borrower remains the owner. The loan, backed by a mortgage, is only reimbursed for the death or resale of the property, without monthly payments. However, despite its legal existence, the product remains marginal, according to an EY study for the EPPARG, the French PVH market represents barely 100 million euros, when it could reach 8 billion by 2035.
The scarcity of offers is both a general ignorance of the mechanism and an absence of actors capable of structuring the offer nationwide. Jubilee intends to remedy it precisely by creating a regulated distribution infrastructure, based on a fully digital platform. It allows, in three minutes, to generate a personalized simulation including an instantaneous assessment of the property put in guarantee.
For Mikael Levy, co -founder and managing director, ” This approval recognizes the rigor of our regulatory approach but also the competence and experience of our teams ». He also underlines that only three approvals of this type have been issued to startups over the past ten years. In parallel with this institutional validation, Jubilee finalized a fundraising of 3 million euros. This funding must make it possible to accelerate the distribution of the product throughout the territory, by targeting retirees excluded from traditional credit.
“” This double milestone – ACPR financing company approval and fundraising – is a decisive step that opens up new prospects for accelerating the financing of seniors’ life projects in France “Explains Pierre Cornet-Vernet, co-founder and president of Jubilé. He insists on the alignment between economic model and impact mission: allow seniors to age well at home, without precariousness or sacrifice of heritage.
The demographic context strengthens the urgency. By 2040, France will have nearly 27 million seniors. 90 % of them want to age at home, even though 78 % do not have the means to finance their dependence. Added to this are major energy issues, 3.2 million thermal colanders are now held by the elderly.
With nearly 10 million euros in loans made or being finalized in seven months, and a thousand simulations generated each month, Jubilea displays a first traction that this fundraising should allow to accelerate.
