Novah from Brazil! became the third company to obtain funding through the plant-based crowdfunding platform Vegan Business. The cashew cheese brand raised R$600,000 ($120,400) in just nine hours, with participation from 108 investors.
Novah’s current portfolio includes five varieties of vegetable cheeses (mozzarella, provolone, fresh, cheddar and cottage) and three cheesecakes (red fruits, coffee with ganache and passion fruit). The brand intends to use the new funding to expand in the state of São Paulo by expanding its team, increasing production, improving marketing efforts, and more.
Vegan Business claims to be the first and only plant-based crowdfunding platform to be approved by the Brazilian Securities and Exchange Commission. Founded by vegan investor Christian “Crica” Wolthers, its goal is to “connect plant-based startups with people looking to invest in companies that are building a better, more sustainable world for us, animals and people.” future generations”.
Wolthers is also an adviser to UK-based vegan investment fund Veg Capital, and last year helped the fund make its first Brazilian investment in chocolate brand Super Vegan. Given that half of Brazilians would reduce their consumption of animal products, the number of plant-based businesses in the country is expected to increase in the coming years, which will make platforms such as Vegan Business more and more important.
“Vegan Business has literally given us a helping hand and makes it possible, not only through the operationalization and execution of the fundraising, but also through the support network (mentoring, networking – the well-known Smart Money ), as well as the ability to bring our focus more qualified and exponentially to more and more people who need inclusive alternatives,” said Novah! CEO Lisiane Oliveira.