Exclusive: Impact investing platform Goparity acquires Bolsa Social – and moves into equity deals

Lisbon, Portugal-based impact investment platform Goparity has acquired Bolsa Social, Spain’s first impact crowdfunding platform to be authorised by the country’s financial regulator CNMV.

The acquisition brings equity investments to Goparity’s platform for the first time, complementing its core loan-based crowdfunding model.

“With this acquisition, we’re now prepared to support a company at any stage of its life, from debt and convertible loans to equity fundraising,” CEO and co-founder Nuno Brito Jorge told Impact Loop in an interview.

In the short term, equity opportunities will continue to be offered through the Bolsa Social platform. Marta Abbad, former COO of Bolsa Social, will join Goparity as head of equity investment, while founder José Moncada will act as an external adviser during a six-month transition period.

Combined, the two platforms now represent more than 70,000 users and close to €70m invested in impact projects, the companies said.

Financial terms of the deal were not disclosed.

Solar roots

Goparity was founded in 2017 by Brito Jorge, an environmental engineer by training, and his two business partners Luís Couto and Manuel Nery Nina.

Brito Jorge, who’s Portuguese but based in Barcelona, got the inspiration for the startup Following his experience crowdfunding a small solar installation in southern Portugal with friends and family.

“We had 16 people lend us money to invest in those solar panels, and they would get a fixed return,” Brito Jorge said. “That’s when I thought there had to be a way of turning this into a business model.”

The platform launched commercially in late 2019, initially focused on solar power, before expanding into other verticals including energy efficiency, circular economy, blue economy, and social innovation.

Growth accelerated after 2020, with Goparity now consistently raising more than €1m per month through its platform, Brito Jorge said.

Starting bid as low as $10

Unlike venture capital firms, Goparity connects individual and business investors directly with impact projects through fixed-return loans.

The platform conducts what it calls “triple due diligence” on the company, the project, and its impact, and applies risk ratings that determine returns.

Investors can participate from as little as €10, with interest rates and loan terms set upfront.

“Our goal was always to make impact investment accessible,” Brito Jorge said.

Projects include an oyster farm off Portugal, which recently raised €350K from over 2000 investors, and Flomics Biotech, a Spanish biotech working on early cancer detection, which secured €300K from 1200 investors.

The startup has offices in Portugal, Spain and Canada, has run more than 420 crowdfunding campaigns, raising over €55m for impact projects across three continents, the company said.

Goparity itself has raised about $8m in equity, according to Dealroom data, the latest being a €2.9m round in May led by Portugal-based impact investor 3XP Global.

Beyond loans

To date, all investments on Goparity have been debt-based, but through the acquisition of Bolsa Social, the company now has the regulatory licence and operational capacity to offer equity fundraising, as well as convertible instruments.

Bolsa Social, founded in 2015, brings more than 13,000 users and around €15m invested in impact projects into the combined platform.

“They are pioneers in this space, with a strong reputation and deep experience in equity investment,” Brito Jorge said, adding that Goparity plans further international expansion, including a potential move into Southeast Asia later this year.