Worldcoo Raises $2.5 Million To Solve Large-Scale World Problems

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Worldcoo helps NGO’s find effective funding sources for their projects with high social and environmental impact through online platforms. Recently raised $2.5 Million will help them to spread the impact across the world and find new solutions for financing. Below is our interview with Aureli Bou, CCO of Worldcoo:

Q: How did the idea behind Worldcoo come about?

A: The origins of Worldcoo date back to 2010, when the founding team founded an NGO to carry out cooperation projects in engineering. For 18 months, we worked with other associations, NGOs, the government and other social entities to develop projects that could change many lives. But in many cases, they never came to fruition due to a lack of funding.

That’s when we realised there were many others just like us, focused on developing projects that could solve the large-scale problems in the world. However very few had focused on funding all of these projects in an efficient, elegant, sustainable manner.

In 2011 we started to create a new fundraising channel for all of these projects. A different path that doesn’t depend on the government and brings value to all involved.

That’s how the idea came about in 2012 to create technology to unite a new fundraising system, crowdfunding, with a sector that is growing around the world, e-commerce.
And what if we could add €1 to help change the world to every trip, article of clothing or takeaway meal purchased online?

Q: Could you please give us more insights into Worldcoo´s functionality?

A: We help NGO’s find effective funding sources for their projects with high social and/or environmental impact through online platforms.

First of all, we validate social projects that need financing and present them to online companies that integrate the widget. Then, we select the project most aligned with e-commerce brand values, and integrate the online tool at check-out. Thanks of this, costumers have the option to make a donation to the project each time they make a purchase. Once the total donation is achieved by users, it goes directly to NGOs for the implementation of the project. Meanwhile, Worldcoo receives the equivalent of 8% of the total funds from NGOs; in the form of services rendered to fundraising. This allows us to develop a fully professionalized activity.

During this process, we ensure totally transparency and confidence to donors: all donations are full traceable, from the website to their destination. Also, we always work with audited NGO’s.

Q: What kind of projects are you funding?

A: We fund projects from different categories: Health, environment, education, poverty&food, human rights, water&energy, disaster relief and comprehensive care. We always offer projects aligned to CSR company’s goals and e-commerce target.

Some of the organisations we work with are: Oxfam Intermon, UNHCR, Save the Children, Unicef, Make a Wish…

Q: You’ve recently announced a $2.54 million funding; what’s your next step?

A: Our next step is to sign new alliances with companies from the main European countries, like France, England, Italy, Germany and Portugal. We also want to expand our business to South America, where we are already funding some projects. Finally, we want to develop new ways of financing through online platforms.

Q: What’s the achievement Worldcoo is most proud of?

A: Our mission is to help solve large-scale worldwide problems through a three-way engagement between NGOs, eCommerce / corporations and people through digital platforms.

Since 2012, we have funded 67 projects thanks to more than 190.000 donors from 35 different countries. As a part of our mission, we are very proud of having contributed to help more than 73.000 direct beneficiaries with our online tool.

Moreover, in May 2015, we obtained the B Corp certification with the best score of any Spanish company, which legitimates our commitment to the rigorous standards of transparency, environmental and social impact and, as a social company, we’re also very proud of this.

Finally, in November 2015, the European Comission recognised Worldcoo technology to European standards in e-commerce fundraising. This project received funding from the European Union’s Horizon 2020 research and innovation programme. Thanks of that, we are now investing in innovation and improving our online tool to ease and streamline universal implementation.

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