Coopfond Invests €250,000 by Doubling CityCampus Crowd Collection on Ecomill

In perfect harmony with the partnership signed with Ecomill, Coopfond, which manages the Mutual Fund for Cooperative Promotion and Development fed by 3 percent of the annual profits of all Legacoop member cooperatives, has expressed full support for the City Campus project by resolving to invest €250,000 in the capital of Urbana, the proposing company.

The City Campus project, promoted by Urbana, a social cooperative that works to promote people, aims to create a widespread university campus in Vicenza, aimed at promoting hospitality, food, culture, and energy transition through an innovative path that will redevelop two existing properties.

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The investment in City Campus by Coopfond is the first use of the match-funding tool developed within the partnership with Ecomill

Through this tool, and upon a positive investment resolution, Coopfond commits to match the amount raised on the Ecomill platform for projects in the cooperative world.

The City Campus project is in a sprint, to date it has raised over €576,000 from 87 investors and will continue to raise on Ecomill until November 10th.

Paola Bellotti, Director of Sustainability and Development, Coopfond, said, “The use of articulated and diversified financial instrumentation, together with the ability to attract resources that Urbana has put in place to support regeneration processes on a territorial scale, is a beautiful example of cooperation that as a protagonist faces the challenges of our time. The innovative ways of capitalizing the cooperative enterprise that Urbana is experimenting with, particularly through Ecomill, are for us an extraordinary starting point for innovative interventions that leverage territories and communities to support the activities of cooperatives.”

Chiara Candelise, CEO and Founder Ecomill is pleased with the ‘investment by Coopfond and the “first time” match-funding on Ecomill: “For us at Ecomill the application of the matchfunding tool developed within our partnership with Coopfond is both a point of arrival and a beginning: it is the arrival of a path of innovation put in place for the use of the equity crowdfunding tool in the cooperative world, but also, we hope, only the beginning of the use of this tool for financing projects in cooperative form.”

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(Featured image by bogitw via Pixabay)

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