Stories: EIC-funded company Worldcoo closes €565k funding round led by Equity4Good
Worldcoo is a Barcelona-based social enterprise aimed at funding NGO projects through different fundraising solutions. The company has announced the new round of financing led by Equity4Good, an investment vehicle managed by Ship2B, with the co-investment of the European Investment Fund, of €565,000. Part of the disbursement of this round, which also includes the IFEM and other private investors, is subject to the fulfilment of objectives, set by the organizations, in the coming months.
The founders of Worldcoo saw the growth and potential of e-commerce as a sales channel and decided to use this trend to help the world fund its social and cooperation projects. They came up with a smart widget that websites can link to their “checkout” or “basket” sections. This makes donations to charitable projects as easy as ticking a box. Last year, they also launched a new and revolutionary channel – the Charity Round Up – that enables to make micro-donation each time we use our payment card, in the main commercial establishments in Spain.
Worldcoo’s Co-founders Aureli Bou and Sergi Figueres stated: “Our Charity Round Up solution has allowed us to multiply by ten the number of donations received from the different collection channels compared to the previous year. These results confirm the social interest in collaborating with the different social and environmental challenges that we face as a society.”
Since the launching of the Charity Round Up, at the beginning of the year, more than 5 million donations have been registered through Worldcoo, which is the equivalent to more than €1,300,000 raised, destinated to the implementation of 70 social and environmental projects around the world.
Connecting customers, companies and causes
Worldcoo is committed to build the European go-to tech donation facility. To reach this goal, Worldcoo's roadmap has to be ambitious. Aside from improving current donation tools, the team is also designing new ones with more customizable solutions and exploring how Artificial Intelligence may help increase conversion rates.
"Our vision is to become the world leader in tech donations. If we achieve this, we could raise millions of euros for thousands of projects, which really benefit many people's lives. This will also contribute to the implementation of the policies and strategies of large institutions, increasing their social impact," added Sergi Figueres, during an interview to the website Physorg.
Since it was created, Worldcoo has funded more than 300 projects thanks to more than five million donations that have been registered from 35 different countries. The project has received a Phase 2 grant from the EIC SME Instrument program to scale-up the system and automatize some of the processes used. The total Phase 2 grant amount is 899.504€.