As you might have heard in a previous update, the Open Collective Platform has moved to a non-profit organization, the Open Finance Consortium (OFiCo). While doing this, we also created a second legal entity with a distinct role: OFi Technologies LLC (OFiTech).

OFiCo, the non-profit parent organization, is governed by its member-based General Assembly, which sets the mission, governance structure, and community-driven direction of the platform. Its role is purely focused on governance, membership, and representing the interests of its members, including fiscal hosts, collectives, and corporate sponsors. This structure allows OFiCo to focus on fostering a transparent, member-benefit organization without being involved in commercial or operational activities.

OFiTech, on the other hand, is a for-profit subsidiary wholly owned by OFiCo and dedicated exclusively to managing and operating the platform. It handles the infrastructure, contracts with partners, provides user support, and generate revenue through platform tips and platform fees. This revenue model enables OFiTech to serve all users, whatever if they are members of the non-profit OFiCo or not.

Together, OFiCo and OFiTech ensure the platform remains community-focused, reliable, and available to everyone.