ISSUE DATE: February 25, 2025
RESPONSE DEADLINE: March 28, 2025, 5 pm PT
INQUIRIES AND SUBMISSIONS: Hanae Bezad, Boann Social Impact hbezad@boann.ca
QUESTIONS & ANSWERS
The Request for Proposal (RFP) is intended to obtain proposals from responding firms (“respondents”) for the Development of a Digital Platform for the Social Finance Hub.
About
About Boann Social Impact Boann Social Impact LP manages capital from the Government of Canada’s Social Finance Fund (SFF). A partnership between the Table of Impact Investment Practitioners (TIIP) and Community Impact Investment LP, Boann will invest $135 million over five years to support purpose-driven intermediaries and enterprises across Canada. For more information, visit: http://www.boann.ca/
About the Social Finance Fund The $755 million Social Finance Fund (SFF) aims to expand Canada’s social finance market by providing flexible financing for charities, non-profits, social enterprises, co-operatives, and other social purpose organizations (SPOs). The SFF channels capital through Social Finance Investors (SFIs) to SPOs, fostering social, cultural, and environmental impact. Managed by Boann Social Impact, Fonds de finance sociale – CAP Finance, and Realize Capital Partners, the SFF helps SPOs grow, innovate, and amplify their impact. https://socialfinance.fund
Scope of Services
Background
Boann and other SFF wholesalers support market-building efforts within the social finance ecosystem. A key component of this work is the development of a bilingual Social Finance Web Portal designed to orient and provide critical information to potential investees, investors, investment advisors, and other stakeholders. The portal will:
Provide information on the Social Finance Fund program, available investment opportunities, deal- and fund-level data, and investment policies, including Inclusion, Diversity, Equity, and Accessibility (IDEA), gender, and other lenses.
Showcase impact measurement and management best practices to promote transparency and accountability in the social finance market.
Be actively monitored and updated to ensure information remains current and coordinated across the broader program.
Boann is also tasked with supporting broader market knowledge and awareness-building efforts, including the creation and maintenance of an inventory of existing Social Finance Investment opportunities through established databases. The Portal will be a critical tool for this work.
Boann will use this Portal to centralize and promote capacity-building initiatives, education, and training resources, with a focus on supporting equity-deserving groups in the social finance market while addressing broader ecosystem needs.
Objective
This project aims to build The Social Finance Hub, a central digital platform for Canada’s social finance ecosystem. It will provide essential tools, data, and resources for investors, social finance intermediaries (SFIs) and social purpose organizations (SPOs)—both nonprofit and for-profit entities focused on social impact, and the general public. User needs are further detailed in the target audience section.
This initiative aligns with the mission of the Social Finance Fund of fostering community-driven economic activity and benefits, diversity, inclusion, and sustainability to create lasting positive change for community members and the planet.
Role and responsibilities
The firm’s role and responsibilities include:
Proposing strategic advice on platform features, integration, and scaling, ensuring alignment with social finance market needs and technical standards.
Proposing a product roadmap based on user requirements, including but not limited to:
Boann technical requirements based on prior consultations with other fund managers of the Social Finance Fund and a sample of emerging and established social finance intermediaries, asset owners/investors, social purpose organizations, investment service providers, and ecosystem partners (see Appendix A – wireframes).
Ongoing feedback from Boann, other fund managers, and ecosystem partners.
Leading technical and content development for a cohesive, user-friendly experience.
Designing, building, and iterating prototypes for scalability and usability.
Curating high-quality content to enhance platform value and accessibility.
Adapting the platform based on ongoing feedback and evolving needs.
Collaborating on a go-to-market strategy, ensuring market readiness with a clear promotion plan, beta testing, and operational support.
Providing ongoing maintenance, bug fixes, updates, and scalability planning.
Offering regular updates to Boann on progress, timelines, and challenges.
Target audience
The Social Finance Hub will provide tools, data, and resources to stakeholders in Canada’s social finance ecosystem, enabling informed investment decisions and maximizing impact answering the following needs:
Social Purpose Organizations (SPOs): SPOs (nonprofits and social enterprises) have expressed challenges in understanding the landscape, engaging with investors, and finding mission-aligned capital. The platform will help them clarify fundraising strategies, connect with like-minded investors, and navigate investment processes effectively.
Investors: Investors (foundations, family offices, asset managers) have shared challenges with limited access to real-time market and performance data, a lack of visibility into available investments, and time-consuming due diligence processes. The platform will provide tools for identifying mission-aligned opportunities, accessing relevant data, streamlining due diligence, connecting with peers for co-investment and knowledge sharing, and staying informed about industry trends, regulations, and impact measurement innovations.
Social Finance Intermediaries (SFIs): SFIs have highlighted key barriers such as a lack of accessible investor data, difficulty marketing opportunities to investors and limited networking opportunities. The platform will help SFIs maximize their impact by improving access to investor insights, expanding their networks, and educating investors on the benefits of social finance.
General Public: The Social Finance Hub is designed to help the public better understand Canada’s social finance marketplace. Many individuals and organizations have indicated a lack of awareness and understanding of social finance and its potential to drive meaningful change, community-driven economic activity and prosperity for more Canadians. The platform will serve as an educational resource, increasing the understanding of impact-driven investments and encouraging more people to engage with Canada’s growing social finance ecosystem.
Accessibility and inclusivity requirements
The platform will adhere to the highest Canadian accessibility standards, including the Accessible Canada Act (ACA) and Web Content Accessibility Guidelines (WCAG) 2.2, aiming for AAA compliance wherever feasible. Key accessibility features include:
Universal Design – Ensuring usability for all, including individuals with disabilities, through screen reader compatibility, keyboard navigation, and descriptive alternative text for images.
Language Accessibility – Full bilingual support in English and French, in compliance with the Official Languages Act.
Responsive Design – Optimized functionality across devices, supporting various screen sizes and internet speeds for an inclusive user experience.
Inclusive Content – Accessible multimedia with closed captions, transcripts, resizable text, and high-contrast display options for users with visual impairments.
User-Centered Testing – Continuous usability testing with diverse accessibility needs to ensure the platform remains fully inclusive and barrier-free.
Deliverables
High-Fidelity Prototypes: Building on the low-fidelity wireframes, the high-fidelity prototypes will incorporate branding, visual design, and interactive features, reflecting the final UI. They will showcase seamless navigation, mobile responsiveness, and WCAG compliance.
Comprehensive Technical Roadmap: based on the high-fidelity prototypes, the technical roadmap will detail development requirements, system architecture, data flow, and integration points:
System design: Outline platform architecture, technologies, and scalability considerations.
APIs and integrations: Build and integrate directories within the platform, complementing existing directories from the social finance ecosystem. This will include specifications for third-party integrations, data models, security protocols, and API access to enable seamless data exchange.
Milestones and timelines: Define technical phases of development (back end and front end implementation) for a timely delivery of features.
Testing and quality assurance: Implement processes to ensure functionality, security, and performance standards are met before launch.
Maintenance and support strategy: Establish post-launch monitoring, issue resolution processes (response and resolution times, uptime guarantees, maintenance schedules, and support channels), along with long-term product evolution.
Key functionalities:
High-priority features
The following high priority features are required and are already included in the low-fidelity wireframes (see Appendix A – wireframes):
Searchable directory – A comprehensive directory providing easy access to users and resources within the social finance ecosystem.
Learning Hub – A content and learning management module designed to facilitate knowledge sharing and skill development.
Job Board – A platform feature to post and find job opportunities within the social finance sector.
Tailored Suggestions – Automated tools to search and identify investment opportunities or investors based on criteria set by the users.
Other features may be requested and incorporated as part of the iterative development process, with a quote provided for each additional feature.
Functional capabilities
Front-end and back-end functionality – Includes CMS integration, database integration and API integration with other platforms for managing and syncing data across the Hub, and the login section for user authentication and role-based access.
Security measures – Ensuring robust security protocols such as HTTPS, encryption, and regular security updates.
Search engine optimization (SEO) implementation – Ensuring the platform is optimized for search engines to increase visibility.
Testing – Includes user acceptance testing, performance testing, and stress testing to ensure platform stability and usability.
Deployment and hosting configuration – Outlining how the platform will be deployed and the necessary hosting environment.
Light Rebranding:
Branding Guidelines Update: Propose a revision of the current branding assets used in a placeholder platform to align with the product strategy, including colors, typography, logo usage, and visual tone.
Visual Design: Apply the updated branding to high-fidelity prototypes, ensuring consistency across all user-facing design elements.
Brand Integration: Integrate updated branding across buttons, icons, banners, and interactive components.
Content Alignment: Ensure all platform content reflects the revised brand voice and messaging.
Final Deliverables:
Launch of a fully functional website developed based on high-fidelity prototypes approved by Boann and aligned with the validated product strategy.
Comprehensive supporting documentation, including source code, design files, and user training materials (see section below).
6. Ongoing Project Management
The selected firm will be responsible for offering effective project management, essential to the success of this project. The selected firm will maintain clear communication by providing regular updates to Boann through status meetings, progress reports, and transparent issue tracking. They must also manage timelines and milestones to ensure all deliverables align with the project schedule, making necessary adjustments to accommodate evolving requirements.
User training
To ensure the platform’s successful adoption and usage, the selected firm is expected to provide:
Comprehensive training materials: Develop user guides, video tutorials, and FAQs tailored to various user roles (e.g., administrators, general users).
Training sessions: Conduct live, interactive training sessions (both in-person and virtual) for different user groups, covering platform navigation, functionality, and best practices.
Ongoing support: Offer post-launch training opportunities and access to a help desk or support team for questions and troubleshooting.
Feedback mechanisms: Establish processes for collecting feedback during training to refine materials and address user concerns effectively.
Timeline
Milestones | Dates | Notes / Deliverables |
Launch of the RFP | February 25, 2025 |
|
End date for submission | March 28th, 2025 | |
Announcement of winning bidder | April 11, 2025 | The winning bidder is expected to initiate work toward offering a product roadmap at the start of May, with onboarding in between |
Development phase (light branding, back end, front end, integration) | May through September 2025 | Regular updates (bi-weekly) including: - Branding and design - Back-end and front-end progress reports - Integration checkpoints with detailed status updates - Updated product roadmap reflecting changes or adjustments during development |
Testing phase | October 2025 | Comprehensive test plans and reports for each component (back-end, front-end, integration)User acceptance testing (UAT) sessions with feedback incorporated into the final product |
Soft launch | November 2025 | Deployment of the product in a controlled environmentCollection of user feedback and initial metrics to guide full-scale launch |
Launch | December 2025 | Release of the website Marketing and communications Users onboarding and support |
Budget allocation
Proponents should outline a phased approach for future years, with potential additional funding based on performance and project needs. The estimated first-year budget is $200,000–$300,000 CAD (exclusive of HST), covering development, content, and branding.
To ensure competitiveness, the proposed budget will be evaluated for relevance and appropriateness. Proponents must submit a detailed financial proposal, including:
Cost Breakdown – Itemized costs (personnel, software, infrastructure, etc.) in CAD.
Payment Schedule – Milestones linked to deliverables and timelines.
Respondent mandatory requirements
This call is open to firms with at least five years of experience and the required licensure to provide content development, product management, and IT services. Firms may apply individually or as a joint venture.
Eligible firms must have:
A proven track record of launching consumer- and business-facing software at a national scale in Canada (client references required upon request).
Technical expertise to engage in discussions on tech stack, architecture, and full-stack web development.
Experience in product integration across various platforms and systems.
QA engineering proficiency to ensure product quality and performance.
Strong UX/UI design capabilities for intuitive user interfaces.
AI capabilities (preferred) for advanced functionalities.
Demonstrated alignment with social impact and finance, such as B-Corp certification, impact-driven experience, or a commitment to ESG and sustainability.
All respondents must adhere to the general RFP guidelines governing procurement by Boann.
Submission requirements
All responses are to be submitted by email in PDF, together with any additional materials, to the email address on the cover of this document. Responses should be limited to a maximum of 50 pages.
Respondents must submit a comprehensive proposal including:
Company profile and relevant experience
Proposed approach and methodology
How key deliverables will be met and where the proponent has alternative deliverables that will achieve the outcomes being sought
Detailed budget, cost breakdown, and payment schedule (inclusive/exclusive of taxes)
Team structure and qualifications
Project delivery timeline with milestones
Project risks and risk management plans and mitigants
Proposed strategies for content creation, curation, communication and users' engagement
Approach to ensuring privacy, security, and compliance
Post-launch support and training plans
System documentation and usage reporting tools
Responses to Appendix B
Submission date
All proposals must be received no later than the date and time specified on the cover of this document.
Questions
To ensure transparency and equal access to information, Boann has established the following process:
Direct Inquiries – All questions must be directed to the contact listed on the cover page.
FAQ Document – A regularly updated FAQ with relevant answers will be made available to all respondents on Boann’s website.
Q&A Session – A live Q&A session will be held on Wednesday, March 12, 2025 at 3 p.m. ET before the response deadline. Please register here: Q&A registration. The question period remains open until this date.
Evaluation Criteria
Criteria | Points |
Relevant experience and demonstrated portfolio | 20 |
Technical response based on project understanding | 20 |
Capacity to implement (availability, timelines) | 20 |
Cost / budget and project cash flow | 20 |
20 | |
Total (maximum score) | 100 |
Proposals will be evaluated holistically based on the criteria above, with preference given to respondents demonstrating a commitment to the 50-30 Challenge for Equity. The proposal with the highest overall score will be selected.
APPENDICES
Appendix A – wireframes
The low-fidelity wireframes provided are the result of prior consultations with ecosystem stakeholders and are intended for reference only. They serve as a conceptual framework rather than a final design. Respondents are encouraged to propose alternative approaches where appropriate, ensuring that the platform’s design, functionality, and user experience align with best practices and evolving ecosystem needs.
Figma file accessible here: Wireframes. The wireframes are also provided below for reference and ease of review.
Appendix B – social and environment equity assessment
Respondents are invited to submit their responses to this mandatory social and environment equity assessment survey.
Appendix C – RFP rules
Respondents are invited to review the general RFP guidelines that govern procurement at Boann.