Civislend, the Spanish real estate crowdlending platform regulated by the CNMV, is analyzing a pipeline of transactions worth more than 100 million euros and plans to launch one or two residential projects each week from now until the end of the year, according to its CEO, Iñigo Torroba, in an interview with idealista/news.
The executive also confirmed that the company will strengthen its presence in Portugal starting in 2027, a market it has already tested with some transactions and considers “very similar to the Spanish one.”
2026 goal: exceed 200 million with around 80 projects
Civislend closed August with 126 million financed so far this year, which represents growth of “almost 100%” compared to 2025. The goal is to close 2026 above 200 million euros in financing volume, with around 80 projects, relying on a historically strong final quarter: “approximately 40% of annual volume is concentrated from September onwards,” Torroba explained.
The platform has already accumulated 400 million raised and nearly 200 projects since its creation. In August, it reported 118 million funded across 46 projects in 2026 to date, so the pace has accelerated in recent weeks.
“We currently have a pipeline of more than 100 million euros under review, so we will launch one or two residential projects every week from now until the end of the year.”
Iñigo Torroba, CEO of Civislend
The model by the numbers
| Minimum investment | €250 |
| Average ticket size per project | ~€2.5M (range €500,000 – €5M, CNMV limit) |
| Average ticket size per investor | ~€2,500 per project |
| Average return 2025 | 11% annual (projects ranging from 10% to 13%) |
| Average loan term | 14 – 16 months |
| Cumulative | €400M raised, ~200 projects |
| 2026 Target | >€200M and ~80 projects this year |
Civislend works exclusively with developers, using debt structures for different phases of the development (land acquisition, construction, or asset purchase), and does not lend to individuals. In a 5 million project it can bring together more than 1,500 investors, although portfolios of around 150,000 euros also participate.
Alternative financing, around 20% of the market
Torroba places the weight of alternative real estate financing in Spain “around 20% compared to banks”, compared to more mature markets like the United Kingdom, where “it is practically 50-50”. The growth of the sector was reflected in the 2025 data, when the platform already exceeded 96 million in the first half of 2026 alone.
On interest rates, the CEO admits that a drastic rise would force “adjusting the spread upwards”, although the intention is to keep the average return around 11%.
What to watch
The keys in the coming months will be meeting the announced pace of one or two projects per week, closing the year above 200 million, and the first concrete steps of the Portuguese expansion in 2027. It will also be necessary to follow the evolution of the return offered if interest rates move.