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Hortis France

presented by October France



36 months


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Paris, France



Marketing surveys & consulting

Presentation of the company

Created in 2013, Hortis France is active in the IT consulting sector and is managed by Xavier Brezet, with a team of around ten employees and based in Paris.

The main activities of the company are:

  • analysis, advice and support mainly in the banking sector, and in particular in the field of compliance
  • support in digitizing and blockchaining

The company works with about ten clients in the banking sector and a few clients in other sectors.

Hortis France belongs to a Franco-Swiss group that owns Hortis GRC, a Swiss company that works in the same sector.

Project Description

The company wishes to borrow €180,000 over 36 months to finance the development of its consulting activity. This project will be completed in the coming months.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to 88 200€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 952 300 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

In 2017, the increase in level of activity is linked to the development of the client base . The increase in profitability is linked to a better cost management in the group.

The forecast has been based on 2018 level of activity.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,2 and a strong financial structure, with a forecast net debt / ebitda ratio of 1 and a net debt / shareholder equity of 157%.

The analysis of the project leads to a credit rating of C and a 7,7% annual interest rate.

*The multiple of FCCR at 1,2 means that the company has a safety margin of 20% relative to its ability to repay its credit maturities.

The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

  • Good historical performance based on a high quality client’s portfolio.
  • Good repayment ability with a forecasted FCCR of 1,2 reinforced by the support of shareholders.
  • Niche market activity with a well known expertise.

Point of caution:

  • Clients dependency.