CrowdCoopFunding: Taking the Cooperative Business Sector by Storm
November 22, 2016
For SELISE, successful collaborations are not those that end upon delivery, but those that perpetuate through time to develop into partnerships. As such, we have always stayed strong in our motive to help partners adopt emerging innovations and reimagine the way they could function.
With that very mindset, SELISE was given the challenge to simplify the transactional complexities that lie at the heart of the cooperative business domain. The primary goal was to take over the share calculations and transaction monitoring to a modern platform. The platform would eventually make subscription to shares easy and attractive, thus allowing the cooperative owners to manage their businesses more efficiently.
This particular challenge, provided to SELISE by the Vienna based CCF team, was proving to be rather exciting. CCF, which is an abbreviation for Crowd Cooperative Funding, is an initiative launched by employees of the Austrian Cooperatives Association (ÖGV) who founded a separate cooperative named “CrowdCoopFunding eG”. Since its inception, it has been dedicated in the purpose of the revolutionising the cooperative business sector with its propitious business model.
Cooperative owners can now not only reach out to potential investors easily, but also manage their business largely on the web, with the help of CoopCenter Live. Christian Pomper, CEO of CCF, having been satisfied at this outcome commented,
The platform is powered by a transaction engine that computes liability and termination dates automatically, and records all transactions in real time. Cooperatives registered on the site can easily setup and customize their business profiles. They have access to their Member Register (Mitgliedsbuch), and can approve/decline share purchase requests. The platform also entertains other transaction types such as liquidation, death, termination, and transfers. Every transaction is logged and can be seen by the investor and the cooperative admins, adding an extra layer of transparency.
But all of the technical terms aside, a popular crowdfunding platform must first and foremost present the idea in a way that peaks interest. The platform must be such that attracts borrowers to the crowd as well, all the while striving to make the business profitable for the company.
CrowdCoopFunding successfully meets all of these requirements, and with SELISE working tirelessly on the Coop Centre, the partnership is sure to propel CrowdCoopFunding as a pioneer in the cooperative industry.
CCF is a cooperative crowdfunding platform run by CrowdCoopFunding eG. The Vienna-based cooperative supports especially other cooperatives as well as SME’s to foster their member and equity base via alternative finance instruments such as cooperative member shares and non-voting equity instruments (e.g. subordinated loans). The goal of the platform is to combine regional strengths with new digital ways.