Table 6.

Characteristics of the platforms

PlatformDescriptionCountry*Impact
report
Generalist vs specialized
La Bolsa SocialLa Bolsa Social is a Social Stock Exchange founded in 2014 and is registered with the CNMV (Comisión Nacional del Mercado de Valores), Spain. La Bolsa Social connects impact investors – who want to generate financial as well as impact returns – with enterprises that are contributing to the achievement of the United Nations Sustainable Development Goals (SDGs) (La Bolsa Social, 2025)ES/ESYesSpecialized
WeFunderWefunder is US-based crowdfunding platform founded in 2011. It is registered as a funding portal with the Securities and Exchange Commission (SEC) and is a portal member of the Financial Industry Regulatory Authority (FINRA). As a public benefit corporation, Wefunder's mission is “to revitalize capitalism”. Therefore, this digital platform offers non-accredited private investors to invest (often in exchange for equity stakes) in different kinds of startups or companies that solve the needs or provide benefit to society. According to the company’s impact report (2021), since 2012, this platform has provided a total of $554m to 2,125 business founders (Wefunder, 2021)The USA/The USAYesGeneralist
FrontFundrFrontFundr is a Canadian equity crowdfunding platform founded in 2013 and is registered as an Exempt Market Dealer (EMD) with eight provincial securities commissions (Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec and Saskatchewan). According to the company’s website, FrontFunder's mission is to “democratize the private markets (or venture capital)”. Therefore, this online private markets investing platform help entrepreneurs turn their groundbreaking ideas (either impact-driven or/and income generating) into reality by connecting them with potential investors. According to website real-time data, this platform has raised over $140m for more than 100 campaigns (FrontFundr, 2025)Canada/CanadaNoGeneralist
Lita.CoLita.Co is the European equity crowdfunding platform for impact investing founded in 2014 and is registered with the AMF (l’Autorité des Marchés Financiers) as a CIP (Conseiller en Investissement Participatif). Currently, it is operating in France, Belgium and Italy. According to the company’s website, Lita.Co. mission is to promote investment in “social enterprises with a strong positive social or/and environmental impact”. In this regard, this equity-based crowdfunding platform allows social investors to invest in social enterprises that contribute to the achievement of one or more of the 17 SDGs set out by the United Nations. According to Lita.Co. (France) website real-time data, this platform has raised funds from social investors for 44,980 sustainable economy projects, which is total 87.8m euros (LITA.Co France, 2025)France/ France, Belgium, ItalyUpon requestSpecialized

Note(s):

*Platform headquarter/In which the platform operates

Source(s): Authors’ own creation

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