Co-operators backs Coop Exchange

London-based trading platform Coop Exchange , a fintech platform, has closed its pre-seed funding round at a valuation of £10 million (~$17 million CAD). Co-operators spearheaded the investment, contributing over $2 million (CAD) for a 12.4% stake in the venture.

Founded in 2018, Coop Exchange offers access to new capital sources. Its mission focuses on reducing wealth inequality through facilitating investments in tradable coop shares, thereby promoting the growth of coops and mutuals.

Aiming to become a regulated stock exchange, Coop Exchange plans to enable cooperatives to list financial instruments, bonds, and equity, adhering to cooperative values while offering a share of surplus.

“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.” – Stephen Gill, CEO at Coop Exchange.

“As one of the largest impact investors in the world, anchoring financial security within positive community impact is the basis of our business model. We see our investment in Coop Exchange as a future-thinking extension of our purpose. Last year, we polled to find over 60 per cent of our market is interested in aligning their investments with their values, however they see limited opportunities and premium costs as barriers. Supporting an exchange dedicated to businesses that reflect those values is going to break down barriers and accelerate the transition to a more sustainable economy.” – Rob Wesseling, President and CEO at Co-operators.