BDKapital - Risk and return review
BDKapital - Returns and loss rates
BDKapital – Pros & Cons
About BDKapital
What it is
BDKapital is a small Spanish crowdfunding platform based in Telde, in the Canary Islands. It is the trading name of Business Dream Factory PSFP, S.L., set up in 2017. Investors lend to local property developers, mostly for home-building and refurbish-and-sell projects on the Canary Islands; a few older loans went to small businesses and four rounds bought shares in startups. In August 2026 its project page listed 31 offerings: 27 loans and 4 share rounds. The platform publishes no total for money lent and no investor count, and its largest loans date from 2025 and 2026.
How it works
You choose loans one by one, usually from €500 per loan (August 2026); share rounds start at €5,000 or more. Each loan pays a fixed rate, and terms run from 6 to 24 months. There is no automatic investing. Money is paid in by card or bank transfer to a payment account at Lemon Way.
Returns
BDKapital claims an average return of 11.40% a year in an undated press release, without saying how it is measured or whether it is before or after costs. Its own loan pages show lower agreed rates: 22 of 27 loans pay 9.50% a year (9.92% a year when compounded), with a range of 7.00% to 10.47%, and the average agreed rate weighted by loan size is 9.49% (August 2026, calculated from the platform's own figures). A 14% figure used in paid newspaper features is the total return on an 18-month loan, not a yearly rate. One share round shows an estimated 1,000% rise in value over 48 months; that is a single estimate, not a result. No return after losses is published.
Losses and defaults
BDKapital says none of its property loans has defaulted ("0% defaults"), in the same undated press release. It gives no definition of default, no number of loans counted and no date. It publishes no loss figure, no late-payment figure and no recovery figure, and we found no yearly default-rate disclosure, which European crowdfunding rules require, in the two and a half years since it was authorised. The project page shows only whether a loan is live, finished or pending. In August 2026, 16 offerings were marked finished, 12 live and 3 pending.
What secures your money
Most loans are secured by a mortgage over the Canary Islands property being financed. Some loans are unsecured or backed only by a guarantee. The developer must put in at least half of the required own funds. There is no buyback, no reserve fund and no insurance; the platform says any fund it might set up would be private and would cover defaults only until it ran out, and none is described as existing. BDKapital publishes no loan-to-value limit and no valuation method, and rates all its own loans AAA or AA. If a loan fails, a fee of 5% to 10% of the unpaid amount is charged to investors for recovery action (fee schedule, August 2026). In plain words: most loans are backed by property, but no loan has been through a recovery, so that security is untested.
Who runs it and its licence
Business Dream Factory PSFP, S.L. (tax number B76294578, Telde, Las Palmas) is authorised by Spain's securities regulator, the CNMV, as a European crowdfunding service provider, number 23, since 26 April 2024. It has no permission to offer its services in other EU countries. It is not a bank or an investment firm, and no deposit guarantee or investor compensation scheme applies. The company has three employees and does not publish its accounts. No regulator action against it was found.
Fees
The loan pages show no fee for investors to invest or receive interest. If a loan goes bad, a fee of 5% to 10% of the unpaid amount is charged to investors for pursuing it.
Getting your money out
You cannot sell early. There is no secondary market and no notice board, so your money stays in each loan for its full term of 6 to 24 months. Uninvested cash at Lemon Way can be withdrawn. BDKapital says that if it stopped trading, Lemon Way has plans to keep collecting from borrowers and paying investors.
Our view
Return: Medium — its loans mostly pay 9.50% a year; the platform's claim of 11.40% a year is undated and gives no method. Risk: Low (higher means more risk) — it claims no defaults, which would put it at the lowest level, but we set it one level higher because that claim is undated and undefined, the required yearly default disclosure is missing, and almost all loans are Canary Islands property, often from the same developers. Risk-return: High, as a medium return meets low risk; the no-default claim is unchecked, and the security has never been tested.
Regulation
License / Regulation: Business Dream Factory PSFP, S.L. (tax number B76294578, Telde, Spain) is authorised by the Spanish securities regulator (CNMV) as a European crowdfunding service provider under Regulation (EU) 2020/1503, register number 23, since 26 April 2024. No cross-border notifications are recorded. It is not an investment firm or credit institution and is not covered by any deposit or investor compensation scheme.
Functionality
For Investors
Useful Information
Yes. Business Dream Factory PSFP, S.L. is authorised by Spain's securities regulator, the CNMV, as a European crowdfunding service provider (number 23) since 26 April 2024. It has no permission to offer its services in other EU countries, and no compensation scheme covers your investment.
Lemon Way, a payment institution, holds your cash in segregated payment accounts until it is lent. BDKapital does not hold client money. Once invested, your money is lent to the developer.
Usually €500 per loan (August 2026). Share rounds in startups start at €5,000 or more.
The platform claims an average of 11.40% a year, but most of its loans pay an agreed 9.50% a year (9.49% on average, weighted by size). It claims no defaults, but publishes no definition, date, loss or recovery figure to check this against.
Most loans are secured by a mortgage on the Canary Islands property being financed, and the developer must put in at least half the required own funds. Some loans are unsecured or backed only by a guarantee. There is no buyback, reserve fund or insurance, no published loan-to-value limit, and the security has never been tested in a recovery.
No. There is no secondary market, so your money stays in each loan for its full term of 6 to 24 months. Only uninvested cash can be withdrawn.
The loan pages show no fee to invest or receive interest. If a loan goes bad, a fee of 5% to 10% of the unpaid amount is charged to investors for recovery action.
If a developer fails, the mortgage would have to be enforced, which can take years and may return less than you lent, minus the recovery fee. If BDKapital stopped trading, it says Lemon Way would keep collecting and paying out on existing loans. No compensation scheme applies.
It has no statistics page, and we found no yearly default-rate disclosure, which European crowdfunding rules require, since its authorisation in April 2024. Its return and default claims appear only in press material. Until it publishes more, investors cannot check how its loans have performed.
