Felix Weth is the founder and CEO of Fairmondo, a German online-marketplace owned by its users. He holds degrees in political sciences, philosophy, economics, public policy, and administration. As an anti-corruption activist, he travelled widely through Africa where he saw how corruption deprives especially young people of life chances. For him, this experience highlighted the structural deficiencies of our economic and political systems. Later, he developed the idea of Fairmondo as a corruption-resistant, transparent, web-based company that could serve as a model for other businesses. Fairmondo publicizes its banking operations through the Open Bank project so that everyone can see and control what they do with their funds.
Fairmondo
Fairmondo is an online marketplace owned by its users. It is open to professional as well as private sellers, with no general restrictions on what products and services can be offered, except for illegal offers or offers deemed unacceptable by our members. By contrast, through the positive promotion of products that fulfill a set of criteria for “fairness,” Fairmondo makes it easy for users to shop in line with their values. These criteria are constantly open for discussion and improvement by members and the broader user base.
Founded in Germany in 2012, Fairmondo is a multi-stakeholder cooperative with open membership for every person who feels affected by its activities. Its statutes include a legally binding commitment to uncompromising transparency and democratic accountability. The managing board is elected by the employees, to ensure a culture of mutual respect within the operating team.