Energy renovation: What solution when you don't have €1 in your pocket?

The wall of the remainder to be borne

Faced with the urgency of renovating housing that consumes too much energy and emits CO2, the State is displaying ambitions that match the challenges: multiplying by three the annual rate of overall renovations in 2024! Although supported by the increase in aid, the rise in energy prices, the tightening of regulations and the significant price reductions for thermal strainers, this objective comes up against the growing difficulties of the French in financing these projects whose cost average is around 700€/m2 with a balance of several tens of thousands of euros.

Renovate now, pay later

After experiencing the obstacle course of energy renovation on a personal level, Hervé Degreve, Sébastien Prot and Mathieu Guerchoux decided in April to create a solution to make it more affordable and accessible. Drawing on their entrepreneurial experience in energy and fintech, they are launching Vasco, a new financing option outside the traditional banking system.

Unlike a bank, Vasco does not lend money to its clients but pays 100% of their work in exchange for a share of their house. Vasco is interested in the real estate value created by the renovation, not the income, age and debt of its clients. Thanks to Vasco, households benefit from the comfort and energy savings of their renovation without spending a euro until the sale of their property.

High-performance renovation accessible to all

Launched in October in New Aquitaine, this new method of financing convinced three major players in energy renovation to contact Vasco several dozen owners. Whether they are young or older, modest or not, occupants or lessors, in the process of buying or looking to sell, they all have in common a strong desire to renovate but no financing option.

Vasco's first client owns a small gas-heated house with a DPE G, which she rents to supplement her meager pension. She has not found any solution to finance the remaining €22.000 for the work necessary to continue renting her house beyond January 1, 2025, the date of the rental ban for this type of accommodation. Vasco finances all of his work in exchange for 10% of his house, allowing him, without paying anything, to earn 5 energy labels to continue renting it while drastically improving comfort, energy bills and carbon emissions. CO2 from its tenants.

For Hervé Degreve, co-founder of Vasco:« For our clients, Vasco is a radical solution to unlock their projects, for our artisan partners an excellent tool for improving the conversion rate of their sites, and for public authorities a complementary lever to the systems in place to achieve their decarbonization objectives . Let's give access to as many people as possible to accelerate the construction of the century! »