ImpactAlpha, September 4 – Three angel investment funds—Harvard Angels, Insper Angels and Anjos Do Brasil—have backed Incentiv with an undisclosed amount of capital.
Incentiv is trying to help socially-minded organizations and projects connect to new funding streams by linking them with companies and individuals who can claim tax deductions on social, economic and educational investments under Brazilian law. Brazilian companies and individuals can write down 100% of such investments; however, only a small percentage take advantage of the tax benefit, LexLatin reports (translated).
Incentiv estimates that there is nearly 6 billion reais ($1.4 billion) in untapped tax deductible funds from individual Brazilians alone. The company says that the main benefit of its platform, compared to other crowdfunding sites, is that it helps companies and individuals navigate tax laws.
Incentiv currently has 35 projects on listed on its platform, most of which focus on cultural and education initiatives. Collectively they have raised about 3.5 million raeis.