Goparity has partnered with UNDP AltFinLab, a United Nations initiative at the forefront of alternative finance, to strengthen how we measure and report impact in crowdlending.

We led a structured review of our impact management framework, with technical mentorship from the UN.

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The work covered three phases: aligning our impact objectives with measurable indicators, updating our project categories, and improving how we collect and manage data. The result is a more transparent and more SDG-aligned framework.

Learn more bellow ⬇️

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A rigorous review

Impact cannot rely on intention alone. It must be measurable, comparable, and credible.

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🗂️ Project categories

Our updated project categories bring a new level of clarity and rigour to the way we classify and compare investments. Each category is now more precisely defined, more directly aligned with global impact priorities, and easier to compare across projects - so you always know exactly what kind of change your money is contributing to.

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Most importantly, every category is now more directly connected to the UN's 2030 Sustainable Development Goals, anchoring every project on Goparity to the international framework that defines what a better world actually looks like.

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📊 Project indicators

Our new framework is built on the Theory of Change, tracing direct project outputs through to long-term, real-world impact.

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Now, we can track 24 outputs, 23 outcomes and 22 impact indicators across three structured levels. The result is a clearer measurement logic, a more transparent link between projects and real-world outcomes, and better impact reporting.

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Why we took this step

This collaboration is an important step for Goparity. It allows us to reinforce the methodological foundations of our impact framework and ensure that our growth is matched by equally robust impact standards. As sustainable finance evolves, so must the standards behind it. We are committed to being on the right side of that evolution, and this is our clear stance against impact washing.

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"As sustainable finance continues to evolve, strengthening transparency, accountability and methodological clarity becomes increasingly important. Through AltFinLab, we support ecosystem actors so they can refine impact measurement approaches that align financial innovation with broader sustainable development objectives."

‍Teodor Petricevic - Accelerator Lead, UNDP AltFinLab

‍Read more on UNDP's blog

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What to expect next

While our Impact team is already using the new framework, we know you still can't see these changes when you log into Goparity. Over the coming months, our development, design, and product teams will work to bring these new categories and indicators to life directly on the platform.

We are committed to continually improving how we monitor, measure, and communicate impact, and we see this as an ongoing journey that we build with our community.

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We partnered with the United Nations Development Programme to raise the bar on how we measure, report, and stand behind our impact - so you can invest with even more confidence.

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Dear community,

This time I’m addressing you from a very small beach town in Northern Perú.  

Earlier this month, I was invited to Lima by the Swiss Entrepreneurship Program, Swiss Contact, and the Universidad de Piura (UDEP) to wrap up a collaboration during which I helped them support local cleantech startups and learn about the Peruvian entrepreneurial ecosystem. There, I discovered a very active impact community, from non-profits to investment funds, startups and accelerators. And as a result, I’m bringing back a bag full of opportunities to share with you this year.  

But here, hundreds of kilometres from Lima, the picture is very different.  As I look above my laptop, I can count at least 17 oil rigs in the ocean in front of me. The inland is full of oil wells, too. The sun even sets behind one of those, on top of a small hill, a vision I never thought I would consider beautiful.

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That beauty comes with a hard contrast. Oil is still at the centre of the local economy here, yet the benefits don’t always translate into better living conditions for the people who call this place home. The town relies mostly on tourism, surf, and the services around them.

Yet people seem happy, and there’s a strong sense of community here. Life moves at a different pace and, for me, being several hours behind Europe makes afternoons a surprisingly good window to get work done.  

That change of rhythm also invites you to be present and think clearly. I have used a lot of that headspace to reflect on Goparity and to consolidate what we learnt over the last year. In this letter, I want to share the strategic pillars guiding us through 2026.

Before I move on, I want to preface by saying that our thoughts at Goparity are with those affected by the unfortunate events of the beginning of the year: the railway accidents in Spain, the extreme weather in Portugal, the New Year’s Eve tragedy in the Alps, and, of course, the many conflicts (recent and past) in different parts of the world.

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All-in on diversification

Diversification should be the cornerstone of every investment strategy, the guiding principle. It is the safest way to ensure you get a decent return on your investments, especially if you keep investing consistently and compound (reinvesting the interest you earn and the principal you get paid back).  

When you don’t diversify, you’re relying on a single outcome. And that’s a risky place to be. So, before sending this email, I decided to dig deeper and share some real figures. I asked our Dev team to randomly pick 3 investors with at least 5.000€ invested, 20+ projects, and a habit of reinvesting their repayments (principal, or principal plus interest). Here’s what we found out:  

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These real-life examples of well-diversified investment portfolios - earning interest, paying tax on income and with a few loans in arrears - are achieving solid returns on their investments while generating a very significant impact in companies that want to do things the best way.

This is how we’ll promote diversification to our community:  

• We’ll make diversification the default by encouraging investment strategies instead of one-off investments.
• We’ll launch our first projects in Southeast Asia, adding timely geographic diversification given today’s geopolitical context.
• We’ll share richer portfolio insights, as - with diversification - we expect investors’ portfolios to progressively resemble our overall portfolio.    

Take your first step towards diversification: activate auto investment. Set your criteria based on your preferences, and we’ll place investments on your behalf as new projects go live. You can still cancel investments up to 4 days after they are made. Learn more here.

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Set up now

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"Skin in the game"

Did you know that at Goparity, we also invest in all the projects we launch? We don’t invest as a company – it’s not allowed by our regulation – but we do individually with auto-investment. It’s the only way to avoid conflict of interest and the best way to diversify.

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The sustainable investment “one-stop-shop”: equity investments are coming

When we launched Goparity we set out to change how money is used: helping anyone earn a decent return, while funding positive impact. That vision always went beyond loans, but we chose to consolidate that model first.

With the acquisition of La Bolsa Social, we’ve welcomed 12.000+ new investors and gained the licence to offer equity investments.

One year ago, I asked our community what we should build next: Equity ranked in the top three - so now it’s time to get it done.

Equity is different from debt. You’re buying shares in a company, and returns, if they come, usually take longer. They typically come through an acquisition (the company or your shares being bought), an IPO (the company being listed on a stock market), or dividends (profits distributed to shareholders). It also carries a higher risk, including the possibility of losing part or all your investment.

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When you invest in equity, you’re investing in the founders, the team, the market they operate in, and in their capacity to deliver the plan they’re proposing.  

We’re committed to bringing you exciting, impact driven opportunities, supported by the needed information to make well informed decisions. You’ll often be investing alongside professional investors in companies with impact embedded in their business model.

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About the past months

There’s been a few ups and downs to the end of 2025 and the start of 2026 that I want to transparently share with you, as usual.  

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Recent authentication issues

In January and February, some investors experienced technical issues related to the rollout of Strong Customer Authentication (SCA), required under PSD2, the European payments Directive. This caused understandable frustration and, in some cases, took longer to resolve than expected. We’ve been working hard on this and staying closely engaged with Mangopay, our payment service provider, to push for a swift resolution for the remaining cases.

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Supporting promoters impacted by the storms in Portugal

Af few of our promoters in Portugal were hit hard by the recent storms. We’ve been working closely with each of them to ease pressure in the short term by introducing temporary capital grace periods when needed and suspending late payment penalties until public support or insurance payments come through.

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Happy place to work

At Goparity, we have always cared for having HR policies that are coherent with the type of organisation we are. We chose to apply for the HappyAtWork® certification that is based exclusively on the opinions of the people working in a company and achieved the Platinum rating, the highest possible result. Still, as with any other certification process, we've identified improvement opportunities, and we’ll continue addressing them.  

Technical issues from our update

Following last week’s scheduled maintenance to strengthen our server capacity and prepare the platform for future growth, we experienced some disruptions and we sincerely apologise for the inconvenience this has caused. Our development team has been working continuously to identify and resolve these problems as quickly as possible. Thank you for your patience, understanding, and continued trust in Goparity.

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Coming up

♻️ More circular economy: New investment opportunity: Candam - a Barcelona-based company redefining what recycling can look like in modern cities.

‍📲 Equity: We are launching equity investment on the platform, giving our community access to long-term value creation alongside impact-driven companies.

‍🌏 New geographies: First project in Southeast Asia, marking a new chapter in our international growth strategy and expanding our global impact footprint.

‍📊 Impact Framework revision: We are advancing toward an independent review of our Impact Framework, reinforcing our commitment to transparency, measurable outcomes, and accountability in how we assess and communicate impact.

‍📖 Impact Report: Work has officially begun on our Impact Report, where we will share detailed insights into our social, environmental, and financial performance, highlighting the real outcomes generated by our community.

‍🤝 Special campaign: We’re preparing a renewed referral program with updated rewards for those who bring new members to our community.

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🙋‍♂️ The question

Equity investments will be live on Goparity soon. Before we launch, I’d love to hear from you: Have you invested in equity before? And what would you like to understand better before doing so with Goparity? In which sectors would you prefer to invest in equity - Cleantech, Climatetech, Femtech, Biotech, or Social Impact? Your answers will shape our first equity webinar with our Head of Equity, Marta Abbad.

👉 Help us shape our equity webinar Answer here (multiple choice)

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If you believe in what we’re building at Goparity, please share your experience. Your feedback not only helps us improve, but also helps more people discover impact investing.

Today, we’re sharing news that marks an exciting new chapter for impact investing in Iberia.

Goparity has acquired Bolsa Social, the first impact crowdfunding platform authorised in Spain. Since 2014, Bolsa Social has built a community of 13,000+ people, financed 50+ Spanish impact businesses, and mobilised nearly €15M through lending and equity.

Together, we now bring a community of 72,000+ members across Iberia and beyond who are committed to investing with purpose.

This step feels natural. We are two companies from the same region, united by the same mission, with a relationship built over many years. By joining forces, we can scale what matters: giving people and organisations more ways to direct their money towards projects that create real, social and environmental value.

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Why we’re joining forces

We started Goparity so people and organisations could choose where their money goes, while improving access to funding for sustainable projects and helping build a fairer, more sustainable economy.

Bolsa Social was built on that same belief. Over the last decade, the team has helped prove something important in Spain: when impact projects have a trusted place to meet a committed community, meaningful capital moves.

This acquisition is a commitment to that idea at a larger scale. More community, more reach, more opportunities for impact organisations, and more ways for investors to build a portfolio aligned with their values.

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What this means for the Goparity community

• More ways to invest in impact: A while ago, we asked our community what you wanted to see next on Goparity, and equity investing was one of the most requested features. With Bolsa Social joining us, we’re bringing the experience and track record needed to get closer to launching equity investments on Goparity alongside lending.
• Stronger cross-border impact opportunities: With Bolsa Social’s roots in the Spanish ecosystem, we will be better positioned to create cross-border opportunities where Portuguese, Spanish, and other European investors can support impactful organisations side by side.
• A bigger community to learn and grow with: A community of 72,000+ impact investors bring more diversity of perspectives, more momentum, and more collective ability to finance the projects Europe needs.

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What this means for the Bolsa Social community

• Continuity, with a thoughtful integration: For now, Bolsa Social will continue to operate in Spain as “Bolsa Social by Goparity” while we integrate gradually and thoughtfully.
• The team stays involved: The Bolsa Social team will stay with us to ensure continuity for investors and impact organisations. Marta Abbad-Jaime de Aragón will now be Head of Equity at Goparity, helping lead the next phase of equity investing as we bring new opportunities to the broader community.
• More visibility and financing capacity for Spanish impact organisations: Bolsa Social is a trusted brand among Spanish investors and entrepreneurs. Together, we will bring greater visibility to Spanish impact projects and expand access to a larger and more diverse investor community over time.

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What happens next

In the coming months, we’ll work on integrating Bolsa Social’s projects, users, and features in a way that protects what already works and unlocks what’s next.  That includes:

• Ensuring a smooth experience for Bolsa Social investors and impact organisations during the transition.
• Bringing teams together while maintaining the local strength Bolsa Social has built in Spain.
• Developing the next steps of product integration, including expanding investment options over time.

We will keep you informed as new developments go live.

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Thank you

To everyone who has backed impact projects through Goparity or Bolsa Social, thank you. This is only possible because thousands of people across Iberia decided that their money should do more than sit still.

We’re proud of what each community has built so far. Now, together, we’re ready to scale that vision in Spain, across Iberia, and across Europe.

🌍 Thank you for being part of this growing movement.

Hi community,

If this isn’t your first Christmas as a Goparity user, you’ll know my personal relationship with this time of year tends to fluctuate.

Sometimes the Christmas spirit catches me early; other years, it turns up late, or threatens not to turn up at all. There was even one year when I made it my mission to avoid hearing “All I Want for Christmas” until 25 December.

This year, it was still November when I first heard that Mariah Carey song. It didn’t exactly make the Christmas spirit arrive any sooner. Now I’ve put on my Indie Christmas playlist to write this letter.

2025 has been a heavy year for those who want a more sustainable planet, for those who want peace, and for those who want to be with friends and family without tension or arguments.

That’s also why I’m spending less time on social media. Because I can tell it doesn’t do me any good, that it brings a bit, but very little, good to the world and distracts us from what’s real, from what we’re living through in the world around us.

It makes me feel a bit hypocritical, and I often stop to think about how we can grow Goparity’s investor community outside social media. The key, I believe, is right there in the word “community”.

Making sure that the people and organisations who use our services are genuinely satisfied, whether they’re investors or project owners, is the best way we can grow beyond social media.

If we look to friends’ recommendations when we want to renovate our home, buy a good bottle of wine, visit a city, or choose a route in the mountains, we can do the same when it comes to putting part of our investments to work financing organisations that want to do things properly.

If you’d like to spread the word, consider our Goparity gift cards as an option for your Christmas presents.

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🎁 Give a present that backs a better future

Our gift cards remain one of the simplest and most thoughtful ways to share impact.

Four reasons to choose this gift:

1. Available in all amounts and for every budget, starting from €10
2. A small carbon footprint, but a significant positive impact
3. A gift that grows, with an annual return of 4% to 10%
4. Promotes financial literacy and empowerment

Buy Now

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In my last email, I asked our community which organisations we should support, and Rewilding Europe was one of the suggestions.

Rewilding Europe is a non-profit organisation dedicated to bringing biodiversity back to our continent, restoring ecosystems so wildlife can thrive again. But their work goes beyond nature conservation; it’s also a way of protecting people.

When we restore nature, we reduce the risks of droughts, floods and wildfires. And when the environment is healthier, communities face fewer crises and become more resilient.

For every Goparity gift card given this month, we’ll donate 1€ to Rewilding Europe.

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How to buy Goparity gift cards

‍Option A: Buy with MB WAY or Multibanco

‍Go to the purchase page and pay with MB WAY or Multibanco.

‍Option B: Buy using your wallet balance

‍In your profile, go to the Gift Cards section and pay using your wallet balance (you can top up your wallet if needed).

‍After that, it’s always the same:

1. Enter the name(s) of the recipient(s) and the amount you’d like to give.
2. Write a personal message.
3. Make the payment.

Receive the gift cards in your email, or download them straight away.

Gift cards can be used for two years across all sustainable investments available on Goparity.

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‍Terms and conditions:

• The value of the gift card will be automatically added to the recipient’s profile when they sign up via the relevant link or redeem the code through their profile.
• The value of the gift card can only be used to invest on the platform.
• The recipient doesn’t need to add any additional amount to use the gift card.

Buy Now

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In the coming days, when work allows (which usually happens between Christmas and New Year), I’ll revisit the highs and lows of 2025, write down the lessons learnt (to make sure they stick), and set my intentions for 2026. I’ll save the reflection for my first letter of 2026.

Until then, we’ll keep working to close out the year strongly, with more great projects and good news for our community.

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Give better, not more.

As usual, I’ll finish with a reminder of a few simple ways to reduce impact without losing meaning:

• Make your own gifts at home, reusing materials and adding a personal touch;
• Choose second-hand items, made easy by the digital platforms that enable it, supporting the circular economy while finding unique pieces;
• Take inspiration from projects and makers who value responsible practices and offer experiences, like some of the brands financed through Goparity.

Gifts like these don’t just avoid waste; they also create stories that are worth more than any last-minute purchase.

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Merry Christmas, and my wish is that in 2026, we can show up, regain hope, and consistently finance the world we want to live in.

Dear community,

I’m writing to you in a moment of great enthusiasm and deep commitment to our mission, hopping between Barcelona and Madrid. We’re working on a few projects I’m really eager to share but can’t just yet. You’ll understand why very soon!

Lately, I’ve been having several conversations with different people (and with myself) about hope. Can we still find it? How do we keep it (or nurture it) in this world we live in?

It always brings me back to the places I turn to when I need strength.

I don’t want to bring up Xavier Rudd in all my letters (by now you must think I’m some groupie; maybe I am!), but I often find real insight in his lyrics. I also learned he’s facing a severe illness, so he deserves the tribute. One of his latest songs, “Morning Birds,” is precisely about this: finding hope in an unfair world. He concludes, “All that we can do is try and send out love, even when it hits a stone.” Another song, “We Deserve to Dream,” reminds us: “All that we can do is be the best that we can be.”

I like to think every single one of us leads by example and has the power to influence those around us. That’s how I teach my children the importance of buying second-hand, recycling, and taking public transport, even when they don’t see others doing so. It’s about believing in the power of individual actions as much as the power of the collective.

We’ve just had our team offsite in the beautiful town of Tavira, in southern Portugal, where we explored how hope becomes empowerment.

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🎆 Highlights of Q3 2025

Oceano Fresco is back at Goparity, now innovating in offshore oyster production. During our team offsite, we visited their open sea facilities and saw what "money for good" can do: power innovation, create jobs, and drive sustainable growth.

July was our highest investment month ever: more than 1,5 M€ were invested through the platform.

Cumulative amount lent through Goparity:

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👏 We reached a big milestone: 150 projects settled. These loans returned 19,3 M€ to investors, with an average annual return of 5.4%, while avoiding ~14,8 kt CO₂ per year, reaching 82,790 people, and creating 4,617 jobs.

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We launched and closed our biggest campaign ever, SeaForPain by Sea4Us, a biotechnology company transforming marine compounds into innovative therapies for unmet medical needs.  

Our impact team developed a new policy combining positive and negative screening to make our impact assessment more objective. We’ll publish it on our website very soon.

Our team is growing in size and seniority: Margarida joined the product team in UX/UI, and Mariana and Francisco now lead the marketing and investment teams, respectively.

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🌱 News from our projects

• Colcocoa won the sustainability category of the Commodities Innovation Awards.
• ubbu won the Heróis PME 2025 award in the start-up category.
• Sea4Us was featured in Portugal Startup News.
• Solar Snacks and Solar Microgreens together generate 129 MWh per year, avoiding 17,7 tonnes of CO₂ per year.
• We made steady progress on recoveries and settlements. We recovered 37 payments in arrears across 12 projects, restructured 3 loans, and detected 2 potential delays early. Several delayed projects are now fully settled, with funds returned to investors. We will keep things careful and transparent, with guarantees and timely updates at the heart of our approach. Soon, our Operations team will introduce a newsletter covering our portfolio performance, dedicated to investors.

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📝 What to expect in the coming months

Many new projects are on the line to be launched in the coming months, and with the support of our community, we might have the most impactful months ever:

‍Just launched: Fibratech International, focused on bringing water and water treatment to remote areas of Colombia.

Also just launched: Flomics Biotech, accelerating early cancer detection through a simple blood test.

‍We’ll be fighting ocean traffic pollution from space.

‍🇵🇹 Our largest ever campaign to fund solar energy for self-consumption in Portugal.

‍🇪🇸 Our presence in Spain will grow strongly, across projects and the community.

‍There’s a new part of the globe opening up to Goparity’s investments.

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🎄 Our Christmas gift cards are back: more impactful than ever

Two years ago, we donated 1€ per gift card sold to MSF, with advice from my friend Gustavo Carona. Last year, we donated to an NGO supporting recovery from the DANA floods in Valencia.This year, I would love to hear from you. Please suggest an organisation to receive this year’s donation. There is so much need right now...

Answer here >

‍To show the impact of our past donations, here are messages we received from them:

‍“With your donation, we can vaccinate 661 children against measles, a disease considered eradicated in Europe but still potentially deadly for thousands of children around the world.” Cristiana Rodrigues, Head of Funding, MSF Portugal

‍“Your support helps rebuild essential infrastructure and activities for the populations affected by the flooding in Valencia, while strengthening the unity and resilience of our communities.” Carla Borrás, Fundació Horta Sud

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🎤 Where you will find us

‍🇵🇹 Web Summit (Lisbon): Goparity will attend as part of a Banco Português de Fomento (BPF) initiative, represented by our COO, Rita Oliveira. Our showcase slot is on 11 November, from 9:00 am to 1:30 pm.

‍🇪🇸 Genera (International Energy and Environment Fair, IFEMA Madrid, 18 to 20 November): We will speak in the Self-consumption Journey panel on 18 November from 11:00 am to 2:00 pm and host a conversation about Alternative Financing on 20 November from 10:30 am to 11:15 am. Our team will be there with a stand to meet organisations looking for sustainable financing.

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🙋‍♂️ The question

As always, I’ll wrap up with a question for the community. As our team grows, we can bring more and better projects to the platform. To make sure they fit your criteria and interests, we’d like to know which factors you value most when deciding where to invest.

‍Please select your top picks: Answer here

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Don’t forget

Diversification is the best way to mitigate risk and build a profitable portfolio.

‍Activate auto-investment to build a resilient portfolio and ensure you never miss out on exciting new investment opportunities.

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🎵 Music note

‍This letter, at least a good part of it, was written while listening to Carla Collado. She is an up-and-coming Catalan singer-songwriter whom I was lucky to see in a small, intimate concert in Barcelona two weeks ago. Her lyrics are openly activist, and her songs are beautifully melodic. ‘Me han robado la primavera’ is one of my favourites

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If you believe in what we’re building at Goparity, please share your experience. Your feedback not only helps us improve, but also helps more people discover impact investing.

Dear community,

I'm addressing you from a plane again while listening to Xavier Rudd, again. I'm flying back from my hometown Porto, after a week there with my kids, both my parents, and my two sisters - a rare coincidence considering we live in four different cities across three different countries. I hope you get to see a lot of family and friends this Summer too.

Lately I've been thinking a lot about Goparity’s “why” and the importance of every company having one and communicating it all the time. It is an obvious concept, popularized years ago in a TED talk by Simon Sinek, but something we don’t always keep in mind.

Our “why” is clear: we exist to foster the transition to a more sustainable economy by providing access to capital to companies and projects that want to do things well, while giving their investors a return that goes well beyond the positive impact the projects generate.

In doing so, we’re also empowering people to choose where their money goes and giving them the satisfaction of knowing it is being used for good.

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📢 Our “why” is now more relevant than ever: the “Banking on Climate Chaos” report

The 2024 “Banking on Climate Chaos” report just came out and makes it clear that our “why” is now more relevant than ever.  I’ll only share a few highlights but their website is worth browsing and the report is worth dedicating some time to.

😱 The world’s biggest 65 banks have dedicated $7,9T to fossil fuel financing in the past 9 years (since the Paris Agreement). Yes, $7.900.000.000.000.

📊 2/3 of them increased their commitment to fossil fuel financing in 2024. Only two out of the top 30 didn’t.

🛢️ Overall investment grew by 23% from 2023 to 2024.

🎖️ JP Morgan Chase (#1) and other US major banks are the undisputable leaders, while Canada (Royal Bank of Canada #8, Toronto-Dominion #9) and Japan place two banks each on the Top10.

🇬🇧 UK’s Barclays is the only European Bank in the Top 10, while HSBC ranks #20.

🇪🇸🇫🇷🇩🇪 Other European “leaders” are Santander (#18, ES), Deutsche Bank (#23, DE), BNP Paribas (#24, FR) and Credit Agricole (#27, FR).

‍🙏 On the bright side, quite a few European banks have reduced their investment: La Caixa (#49, ES) and ING (#32, NL) performed the most significant reductions.

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🎆 Highlights of Q2 2025

The last quarter, as usual, had its ups and downs

🚀 We reached 50M€ invested via Goparity.

🤝 We closed a 2.9M€ funding round late in April, led by 3XP, with the participation from Mustard Seed Maze, Schneider Electric, Regenerative.eco, InvestEco and more than 800 small shareholders, many of which are Goparity users, via Crowdcube.

🧑It was great to see all the team get together in Lisbon in our shareholders' MAZE offices (picture below).

🔃 You can now instantly transfer funds within your Goparity wallets. For free. This means more flexibility and faster access to investment opportunities - no more money stalled.

⚡️ We raised 500k€ for Dispower, providing +3000 families with access to electricity.

👩 We held our first board meeting in gender parity: 3 women and 3 men. This also is walking the talk.

🇪🇺🇨🇦 We concluded our B-Corp re-certification, which also included Goparity Canada for the first time: our score increased from 84.3 points to 93.2 🌱🙌

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🌾News about our ongoing loans

🌱Jord (🇩🇴 🇸🇪) was nominated for the 2025 Earthshot Prize by the Caribbean Climate-Smart Accelerator and has become a member of both the World Bioenergy Association and Bioenergy Europe.

👷🏻Efenco (🇪🇪) was successfully implemented. The funds were used for the research and development, piloting and testing of their HERC technology, which has brought the system closer to commercial readiness.

☀️ Solar Sustainable Aquaculture, Solar Herdade do Baldio and Solar Bakery (🇵🇹) have been successfully implemented, ie solar panels are installed and producing clean energy.

🍇 Fita preta (🇵🇹) won the “Best Wine Tourism in Portugal” award of by the Portuguese Wine Tourism Association (Associação Portuguesa de Enoturismo).

🏫 Goparity Canada (🇨🇦) funded Solar fo Gw’sala - 'Nakwazda'xw in record time: a rooftop solar system in a First Nation School’s gym in British Columbia.

‍In the past quarter we recovered 24 payments in arrears from 11 projects, had 2 loans restructured and prevented 22 payments from being delayed via early detection warnings implemented by our Operations team.

‍Our NPL > 90 days at the end of 2024 was 7,56% lowering from 14,95% observed at the end of 2023. Still, we are very focused on improving these numbers, continuously employing efforts to optimize our credit policy and recovery procedures. Check the recently published 2024 Default Rate Report  >‍

‍Regarding project updates, as per our commitment, we have zero projects in arrears with updates older than 180 days.

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🆕 Credit recovery and new info on your dashboard‍

I know it’s not always as visible or successful as we’d like, but we put tremendous effort into credit recovery, and are already seeing positive results.

Until recently, your dashboard would show a project as “in arrears” even if a judicial or extra-judicial recovery plan had already been agreed upon and the promoter was actively complying with it.

Now, when you access your ongoing loans in your dashboard, you will see the new category, "Recovery agreement”. This allows you to easily identify which projects are no longer in arrears and the borrower is successfully following the recovery payment plan.

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🛡️ New commitments regarding risk: asset-backed loans

Last quarter we had to endure the insolvency of two companies that received financing from Goparity a few years ago. Unlike most other cases - where we were able to recover debt, agree on new payment plans or restructure loans - there was no recovery of funds. This happened, in big part, because we had no pledge on assets or guarantees.

When we take a pledge on assets, be it buildings, machinery, solar panels, or even receivables it  provides us with "secured" credit status. This means our debt becomes senior to others (up to the amount of the collateral/security provided) which is beneficial not only in case of insolvency, but also in other judicial credit recovery procedures.

👉 Having a guarantee does not affect a loan’s risk rating. The risk rating measures of how likely the company is to be able to perform its loan obligations, while guarantees are only activated in case of default - but it does impact the interest rate of a given loan. If a pledge is properly registered the risk of loss of all capital is near-zero.

‍How we measure a project's risk > What are guarantees for >

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Our commitments moving forward 👇

1. Prioritizing projects that offer guarantees: from corporate guarantees to pledge of buildings, land, equipment or receivables.
2. Make it clearly visible when a project does (or doesn’t) offer a guarantee or collateral (even on our social media posts - check below)
3. Communicating the Loan-to-Value (LTV) ratio of collateralized projects: this means we’ll let you know how much the lent amount is worth in comparison to the value of pledged asset (e.g.: a 70.000€ loan backed by an asset that is worth 100.000€ has a 70% LTV)

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For a long time now, you can check whether a loan has a guarantee or not in the campaign page (image on the left). That information is also available in the Key Investment Information Sheet.

‍We're now also publishing that information whenever we share a new investment opportunity on Instagram or LinkedIn. On the image on the right you can see the example of what that looked like for Bioo: powered by nature.

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🙋‍♂️The question

We often reject really impactful projects, because we cannot be sure about their capability to generate income to cover the debt they'de raise and they own no assets to provide as collateral.

Some examples could be startups, either technological or not, or early stage or projects in sectors like health, education or social impact.

Still, we believe people can play a role in providing them with access to finance and deserve a significant upside should they become successful businesses in the future.

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My question this time is: would you be available to invest in equity - becoming a shareholder - in impactful companies?

(Click in one of the options below to answer 👇)

This would not imply any obligation as a shareholder (we’d do the job for you), but it means the potential gains could only come from:

• A secondary sale of your shares (selling to another investor in the future);
• The company becoming profitable and pays dividends;
• The company being acquired;
• The company being listed on the stock market.

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Yes, absolutely
I don't think so

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👋 What to expect from this semester

I believe I already told you about how I only like to talk about things when they’re 99% confirmed (better if 100%). I don’t like to create to many expectations ahead of time, even less, to come out as inconsequent. It is happening with ETF investing for example, where the formal regulatory approval is taking much longer than expected. But the plan is still there and evolving, I assure you.

🇪🇸🇪🇺 Bioo is currently online with the most innovative technology we ever funded: generating electricity from the soil. They have installations from Spain to the Middle East;

🇵🇹🇪🇺 Sea4us came back to Goparity: after the early settlement of one of our biggest loans ever, they’re back with our largest campaign ever, they plan to raise up to 1,2M€ to reach clinical trials in 2026;

🇨🇦 Plaex, a company turning construction waste into building brick, is fundraising in Goparity (offer available to Canadian investors only);

🇨🇴 Colombian companies will be back to the platform with more exciting projects on the Agrifood and Energy sectors;

There’s actually another piece of exciting news that are very likely to be heading our way but I don’t want to talk ahead of time. Promise to follow-up on my next email 🙏

Thanks for getting to the end of this message, I know it was a long one and respect you for that. Have a great summer!

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If you believe in what we’re building at Goparity, please share your experience. Your feedback not only helps us improve, but also helps more people discover impact investing.