Equity crowdfunding platform Vegan shop helped three Brazilian vegan companies raise a combined R$1.5 million in three months.
Over 2,000 Brazilians have now signed up to the platform, which is the first of its kind exclusively for vegan businesses in Brazil. The amount of funds raised so far is impressive considering that Vegan Business only received operating approval from the Brazilian Securities and Exchange Commission at the end of last year.
The first company to raise funds through Vegan Business was Chameleon Sun, a vegan sunscreen brand founded by two former Nike executives. The company secured R$505,000 with the participation of 23 investors.
Next came plant-based milk brand Purifica, which raised BRL 375,000 from 55 investors. Finally cashew cheese producer Novah! raised the largest sum to date – R$600,000 – with 108 investors.
About the platform
Vegan Business was founded by Danish-Brazilian investor Christian “Crica” Wolthers. The startups presented to investors on the platform are carefully curated, taking into account factors such as their team, product, market size and growth potential. Wolthers is also an advisor to UK investment fund Veg Capital and helps companies like Brazilian chocolate brand Super Vegan raise finance.
“I’m very excited about the interest shown by the people of Brazil in supporting sustainable, plant-based and cruelty-free businesses. We now have 2300 registered investors with Vegan Business and I am always amazed to see between 15 and 30 new registrations on our platform every day,” said Wolthers.
He added: “We are now also receiving interest from investors outside of Brazil who wish to invest through our platform. This will also help us support even more plant-based companies and attract larger funding rounds.”