LONDON – January 10th 2023 – In a significant move towards redefining cooperative investment, Coop Exchange, the forward-thinking fintech start-up, is proud to announce that the International Co-operative and Mutual Insurance Federation (ICMIF) has invested and secured a board seat during its recently initiated pre-seed investment round. This strategic collaboration follows Coop Exchange's participation in the ICMIF centenary event held in Rome, where industry experts collectively highlighted the urgent need for innovative approaches to sustainable finance.
Cooperative Capital Founded in the UK in 2020 but with global ambitions, Coop Exchange will harness cutting-edge technologies to enable institutional mutuals and large cooperatives, with future plans to include retail investors, to invest in tradeable co-op shares. This ground-breaking approach is poised to champion the global growth of cooperatives and mutuals, perfectly aligning with the aspirations of ICMIF members who seek fresh avenues for impact investment and truly sustainable funds.
Sustainable Finance As it progresses towards becoming a regulated stock exchange, Coop Exchange will facilitate the listing of cooperative securities and financial instruments, including bonds and equity, with entitlements to a share of surplus but with restricted voting rights that adhere to cooperative values and principles. This innovative model not only safeguards investors and the cooperative movement but also creates an exciting new market for sustainable fund managers. The cooperative model, widely recognised as the most sustainable business model, will take centre stage in this transformative investment era. Coop Exchange offers fund managers unparalleled access to a substantial market of sustainable businesses and the potential for conversions of private businesses.
Stephen Gill, Coop Exchange, CEO, commented on this exciting collaboration, stating, "The needs and values of ICMIF members align perfectly with the goals and values that drive Coop Exchange. I'm delighted that we've joined forces in a spirit of cooperation to contribute to the transformation of the sustainable investment landscape."
Innovative Approach Coop Exchange's innovative and sustainable approach is set to revolutionize cooperative investment, positioning itself at the forefront of a new economic paradigm centred on inclusive growth, sustainable development, and equitable wealth distribution.
For more information about Coop Exchange and its transformative initiatives, please visit www.coop.exchange.
END
For media inquiries or additional information, please contact:
Aaron Stewart aaron.stewart@coop.exchange +44 (0)7794612016
Notes for journalists:
About Coop Exchange: Coop Exchange is a start-up headquartered in London, UK with an office in Malta. Its mission is to address wealth inequality by: growing the co-operative economy by providing co-ops with access to new sources of capital; and enabling everyone to invest in tradeable co-op shares.
About ICMIF: Founded in 1922 ICMIF has over 200 members worldwide and in its most recent key findings analysis reported that its membership employees more than 230,000 people globally and services 321 million policyholders.