SodaCrowd - Risk and return review
SodaCrowd - Returns and loss rates
SodaCrowd – Pros & Cons
About SodaCrowd
What it is
SodaCrowd is a Spanish property crowdfunding platform, the new name of iCrowdhouse. The old icrowdhouse.com address now forwards to sodacrowd.com (checked 1 November 2026), and the licence number is the same. The platform says it is backed by Soda Capital, a Mexican property finance group, and Soda Urbana. It is young: in October 2026 its site showed three funded Spanish projects, worth about EUR 3.4 million together.
On 1 November 2026 the website did not respond, so the figures on this page are as the site showed them on 16 October 2026.
How it works
SodaCrowd raises money for residential developments in Spain in two ways. With a loan, you lend to the developer at a fixed rate for a set term and get your money back at the end. With equity, you become a partner in the project company and share in the profit when the homes are sold, with no payments along the way. You choose each project yourself and invest from EUR 500, although the minimum can vary by project. In October 2026 the site listed projects in Bilbao, Guadalajara and Valencia as under study or coming soon.
Returns
SodaCrowd publishes no average or realised return for its own deals. The highest figure shown is a projected 28% a year (69% in total over 24 months) on the Picanya equity project in Valencia, which is still being built (October 2026). A second equity project, Boadilla del Monte in Madrid, projects 19.1% a year (52.5% over 35 months). These are targets, not results. The one finished deal, the Campolivar loan in Valencia, paid 12.5% a year over 12 months and is shown as repaid. The site's summary counters combine SodaCrowd with its Mexican parent, so they do not describe this platform alone.
Losses and defaults
No default rate, late-payment figure or loss figure is published. With only three funded projects, and two of them still being built, there is too little history to judge how often projects fail.
What secures your money
Security depends on the type of deal. Loans are lent to the developer of one residential project; the one loan described in detail, Campolivar in Valencia (EUR 1,130,000, 12.5% a year), was secured by a first-rank mortgage on the site, which the platform said would move to second rank once a bank loan, planned for May 2027, is signed. Equity deals have no security: you become a partner in the project company and are paid only when the homes are sold. There is no buyback, reserve fund or guarantee: the investor terms state that the platform gives no guarantee on investments, and the platform is not covered by any investor or deposit guarantee fund. No recovery figures are published, because no deal has yet been shown as failed.
Who runs it and its licence
The platform is run by Sodacrowd, S.L. (tax number B66884974, Madrid commercial register). Spain's securities regulator (CNMV) lists it as a crowdfunding service provider under number 16, registered since 1 December 2023. Until mid-2026 the same licence was shown in the name of Crowdhouse Europe, S.L. The projects themselves are not reviewed by the CNMV, and inexperienced investors get a four-day period to cancel an investment.
Fees
Investors pay nothing: the investor terms (July 2026) state that the platform charges registered users no fee or cost for its services. Developers pay fees set case by case, which are not published.
Getting your money out
There is no secondary market described on the site, so you wait for the loan to be repaid or the project to be sold: 12 months for the loans shown and 24 to 35 months for the equity projects, if all goes to plan. If a project does not reach its target, the money is released back to your payment account at no cost.
Our view
Return: Very high, but only because of a projected 28% a year on one equity project still being built; nothing realised is published apart from one repaid loan. Risk: High (higher means more risk), as there is no default or loss figure, the track record is three projects, and the website was down on 1 November 2026. Risk-return: Low, since only projections back the return figure.
Regulation
License / Regulation: Sodacrowd, S.L. (tax number B66884974) is registered with Spain's securities regulator (CNMV) as a crowdfunding service provider under European Regulation 2020/1503, register number 16, since 1 December 2023. The licence was earlier shown in the name of Crowdhouse Europe, S.L., which ran iCrowdhouse. It is not an investment firm or a bank, and no investor or deposit guarantee fund covers the investments.
Functionality
For Investors
Useful Information
iCrowdhouse was combined with Soda Capital, a Mexican property finance group, and now trades as SodaCrowd. The old icrowdhouse.com address forwards to sodacrowd.com (1 November 2026), and the CNMV registration number 16 stayed the same.
Yes. Sodacrowd, S.L. is registered with Spain's securities regulator (CNMV) as a crowdfunding service provider, number 16, since 1 December 2023. The CNMV does not review the individual projects.
A licensed payment provider holds it in accounts kept apart from the platform's money: Mangopay according to the investor terms of July 2026 (the April 2026 FAQ named PayArea). Once invested, your money is lent to or invested in the project company.
EUR 500 per project, although the platform says it can vary by project.
No realised average is published. One loan, Campolivar, paid 12.5% a year and is shown as repaid; two equity projects project 28% and 19.1% a year but are still being built (October 2026). No default or loss figure is published.
It depends on the deal. The Campolivar loan had a first-rank mortgage on the site, due to become second rank once a bank lends to the project. Equity deals are not secured. There is no buyback or guarantee from the platform.
No secondary market is described, so your money stays in each project until the loan is repaid or the homes are sold: about 12 months for loans and 24 to 35 months for the equity projects shown.
None. The investor terms (July 2026) say the platform charges registered users no fees or costs. Developers pay fees agreed case by case.
Your loan or shares are with the project company, not with SodaCrowd, and cash waits at the payment provider. If a developer fails, a loan depends on its mortgage and equity investors may lose everything. No guarantee fund covers losses.
