Amsterdam-based Share Council, a social fintech startup, announced on Thursday that it has raised €1M in funding from The Sharing Group and a network of strategic angel investors.
The Dutch startup says it will use the funds to expand its team and improve the platform.
The Dutch company also plans to use the funds to extend its API to facilitate share trading on third-party platforms like bookkeeping and HR.
The birth of Share Council
Employee co-ownership is often seen as a daunting, expensive, and cumbersome task by small to medium-sized businesses (SMEs).
Quintus Willemse, Share Council’s CEO, ran into this problem in 2015 when he wanted to make every employee a co-owner of his startup Foryard, a platform for social enterprises.
“It was absurd that I either had to agree on a 10k proposal from an accountancy and notary firm (for five employees) or exercise a full evening study to be able to simply sell part of my company to employees,” says Willemse.
The finding that in Europe, 64 per cent of the capital is in the hands of 10 per cent of the population propelled the birth of a new mission and platform!
Share Council: What you need to know
Founded in 2017 by Quintus Willemse, and joined by Hero de Smeth, Stevie Long, and Ebbi Elfrink, Share Council is an employee participation platform for SMEs.
Share Council has developed an API platform through which companies can implement co-ownership in any form.
It helps SMEs efficiently arrange and streamline all the processes and administration regarding employee participation and stakeholder participation in general.
“We help companies to turn individuals into teams with a sense of belonging by giving everyone access to the one source of truth,” says Ebbi Elferink.
Currently, the company works with clients like Lightyear, Tony Chocolonely, bunq, MyWheels, Mijndomein, The Seaweed Company, Seepje, Breeze, and many others.
“The current turbulent times mean a big change for SMEs since it’s harder to keep your good employees, there’s a limited offer of talent in the market, and the demand for more equality is rising. A new social norm of co-ownership is coming up, which is good for every business because it immediately lowers sick leave, lowers employee turnover, and increases economic stability for SME businesses,” says Willemse.