Our Ethical Standards
We see ourselves as a company oriented towards the common good. This page shows how we have firmly integrated this idea into our governance structure.
We have a non-profit roof
We founded Gexsi as a Social Startup and in April 2018 transferred 100% of the shares to the non-profit Good Impact Foundation (℅ Noah Foundation). Thus 100% of all profits remain in a non-profit framework.
Our promise of transparency
We are of the opinion that a social business should be as transparent as possible in its actions. We are therefore guided by the 10 criteria of the Transparent Civil Society Initiative and report exactly where our funds come from and how we use them.
GEXSI Impact UG (limited liability) Winsstraße 4 10405 Berlin Deutschland
Founding year: 2016
GEXSI Impact UG (“Gexsi”) is a B-Corp certified start-up with a vision of a world where social entrepreneurs are gaining traction. Gexsi operates a social search engine whose revenue is used to support innovative social projects that contribute to the 17 UN Global Sustainability Goals (SDGs) – locally and globally.
The criteria according to which we select projects are displays transparently on our website in the section Our Selection Criteria.
The shareholders’ agreement dated 29 January 2016, the entry in the commercial register dated 8 February 2016 and the transfer of shares to the non-profit Noah Foundation dated 5 April 2018 can be downloaded here.
- Founder and Managing Director: Dr. Andreas Renner; since December 2019 Kevin Fuchs is also a managing director.
- Founder and Director of the Noah Foundation as owner of Gexsi: David Diallo.
We started the Gexsi search engine in May 2018 as a beta version. The activities are described on this website under “Our Impact Tracking” and on the page “Projects”.
Gexsi is one of the first B Corp certified companies in Germany. From 2014 to 2017 Gexsi was commissioned by the umbrella organisation B Lab Europe Foundation to set up the German chapter of Certified B Corporations as a country partner, actively supported various social business start-ups and advised international organisations on questions of impact-oriented investments.
With the launch of the search engine, we registered Gexsi as a new company, GEXSI Impact UG, which is entirely embedded in a charitable framework.
Our B Impact Report can be found here.
The Gexsi search machine was started by Andreas Renner and David together with Kevin Fuchs. Andreas ist heading the business development, Kevin the digital development. The core team is supported by Andrea Rebensburg (communication), Kai Kreuzmüller (Influencer Marketing) and Manuel Harder (programming).
We want to describe our business model as simply and clearly as possible. The following overview serves this purpose:
Our core business is based on
- a contract with System1 LLC (dated November 2018), an accredited partner of Microsoft, which makes the search engine technologist Bing available to third parties on the basis of a benefit-sharing agreement, and
- an agreement with the Berlin-based company Searchturbo (dated May 2018), which monetizes direct links of our autocompletion box.
As of January 31st, 2020, we earned a total of 3.950€ through these two channels.
We successfully closed a seed financing round of 75.000€ during the first half of 2019 from four business angels, which was matched by the GLS Treuhand Foundation.
To fund our initial work, we offered consulting services in the area of Social Business / Impact Investing, which generated revenues:
- Impact Investment Advisory Services: 5,000€ (2016), 1,554€ (2017); no services offered since the beginning of 2018.
- Building B Corp Network: 6.100€ (2016), 2.750€ (2017), 7.950€ (2018), a final down-payment is expected in the course of 2019.
Within our partnership with WWF we invoiced a total of 7,500€ which covered digital development work; within our partnership with the SensAbility Impact Summit we acquired a sponsorship of 2,500€ from a private company (LTVI)
Apart from these sources of funds, Gexsi has so far been fully bootstrapped through the founding team.
The use of the revenues of our search engine is described in detail on the page Your Impact in our Impact Tracking Table. The development of the search engine has so far been done 100% by the founders themselves, i.e. no salaries have been paid.
The financial statements for 2016 and 2017 do not yet reflect any revenues of the search engine and are at a low level. The use of funds in the two years referred exclusively to the management of the network of Certified B Corporations by Andreas Renner and Andrea Rebensburg and individual Impact Investment related consulting services by Andreas Renner. The last submitted annual financial statements can be downloaded here.
The section about the use of funds in the most recent years will be updated soon.
GEXSI Impact UG (“Gexsi”) is a B Corp certified social business founded in February 2016 by Andreas Renner, whose shares were fully transferred to the non-profit Noah in April 2018. The transaction was carried out at the nominal value of the share capital (€1,000).
The Noah Foundation is an independent, private foundation based in Potsdam (Stiftung-Register: #164). It was founded in 2008 by David Diallo. It is planned to increasingly work with the label “Good Impact Foundation” in an international context. There is an agreement between David Diallo and Andreas Renner, which provides for the establishment of a subfoundation or a foundation of one’s own at a later date and thus ties in with the GEXSI history.
The idea of “GEXSI – Global Exchange for Social Investment” goes back to an initiative of the Schwab Foundation for Social Entrepreneurship in 2001 with the aim of closing the financing gap for social entrepreneurs.
Even if the history is not directly relevant under company law, it is still important in order to understand the basic idea of GEXSI and to be able to classify the legal entities that operated with the brand in the past. The GEXSI idea was pursued in different legal forms, all of which sought a bridge between non-profit and for-profit structures. Andreas Renner joined in 2005, since 2008 in leading positions as CEO of Charity, partner of LLP and founder and managing director of GmbH and UG:
Launched as an internal project of the Schwab Foundation under the leadership of Pamela Hartigan in 2001, GEXSI was spun off at the end of 2004 as GEXSI Ltd in London and then, under the leadership of Maritta Koch-Weser at the beginning of 2005, quickly set up as a UK Charity, whereby this was supplemented by a sister company, GEXSI LLP, for consulting projects. The latter was replaced in 2008 by a German company, GEXSI Capital Partners, in which Andreas Renner and David Diallo (via Diallo Beteiligungs GmbH, today Impact Ventures GmbH) and Marc von Krosigk held equal shares. With the dissolution of the GEXSI Charity and the simultaneous revaluation of GEXSI Capital Partners GmbH as a “Certified B Corporation”, the GmbH was renamed GEXSI GmbH in 2015.
The new foundation of GEXSI Impact UG 2016, which replaces GEXSI GmbH, has opened the way to continue the original business model in a changed, now non-profit shareholder structure. Legally, GEXSI Impact UG is not a legal successor of GEXSI GmbH. However, the mission, the brand, the business model, to develop solutions that strengthen the social enterprise sector and the associated B Corp certification has been transferred to the new company.
The GEXSI story reflects a long-standing search for the most meaningful legal structure for a social business that operates in the market but is 100% committed to a social mission. It also carries a strong message that the challenge of closing the funding gap for social entrepreneurs has remained virtually unchanged despite the huge developments in the social impact sector, but that today – unlike 15 years ago when the GEXSI idea was born – we have new digital tools that allow us to rethink solutions. It is this continuity in vision that has led to the idea of using the search engine to revive the GEXSI – Global Exchange for Social Investment brand with its own history.
Gexsi has not yet received any grants.
We are a Certified B Corporation
With more than 2,500 certified companies, B Corp is the world’s largest network of companies that measure their success against social benefits and have it certified independently. In addition to the governance structure, the positive effects of the company on its direct environment (“communities”), its customers (“customers”), the natural environment (“environment”) and its employees (“employees”) are evaluated.
Due to its high score, GEXSI was last honored as a “Best for the World” company in 2017 and 2018.
Further information can be found in the GEXSI B Impact Report.
Our Environmental Guidelines
For us, environmental protection is an important part of our understanding of ethical management. We have pursued the following principles to date:
We see ourselves as a learning organisation that strives to continually review and improve its standards.