LONDON, Feb. 16, 2024 /CNW/ – In a significant stride towards reshaping the economic landscape, Coop Exchange, a visionary fintech platform, announces the successful completion of its pre-seed funding round. This significant milestone underscores Coop Exchange’s potential as a major disruptor in cooperative and sustainable finance as evidenced by its impressive £10 million valuation (approx. $17 million CAD) at this early stage. Co-operators Financial Services Limited led the investment with a contribution of over $2 million (CAD), acquiring a 12.4 per cent stake.
Cooperative Capital
Coop Exchange is poised to revolutionise the cooperative sector by providing unparalleled access to new capital sources. As a global platform, its mission is to combat wealth inequality by facilitating investment in tradeable coop shares and fostering the growth of coops and mutuals. This initiative resonates powerfully with impact investors and sustainable fund managers, aligning financial returns with tangible social impact.
Sustainable Finance
Coop Exchange aims to become a regulated stock exchange, allowing cooperatives to list cooperative financial instruments, bonds and equity, with restricted voting rights in line with cooperative values and principles but with a share of surplus. This approach not only protects investors and the cooperative movement, but also opens a new market for sustainable fund managers. The cooperative model, upheld as the most sustainable business model, will be at the forefront of this new investment era. Coop Exchange offers fund managers a unique opportunity to access this substantial market of sustainable businesses and a potential new market of private business conversions.
Stephen Gill, Coop Exchange, CEO: “At a time when cooperative capital is increasingly vital, Coop Exchange emerges as a distinct and crucial player, unlocking a fresh market for sustainable finance. Having Co-operators lead our pre-seed round is a testament to their forward-looking and cooperative nature, and we’re extremely pleased with this partnership.”
