Share
100% funded by 418 investors
Culture Channel II
Elvas, Lisboa, PT
instalment
monthly
term
2 years
yearly interest
4.3%
risk rating
B-
Portuguese streaming platform for culture related content.
Description
Founded in 2019, Letrasímpares, Lda, is a company that aggregates a series of brands whose business areas focus on the publishing market, content production, and coworking.
The company managed to raise 187,110€ through a European fund, granted by the Ministry of Cohesion, the +Coeso fund. The funds raised through GoParity are intended to be used as an advance since the amount of the +Coeso fund will be released in tranches between 2021 and 2023.
This is the second campaign of the same amount adding to a total of 50.000€. The €25,000 raised in this round will also be used to purchase audiovisual and live streaming gear to broadcast live content on Canal Cultura, which is scheduled to launch on January 8, 2022. The funds will also be used to hire three people who will be based in the Alto Alentejo region, at the Cowork BC8 space in Elvas, another project created under Letrasímpares.
According to Paulo Lavadinho, the founder of the project and Executive Director of Letrasímpares, the channel aims to be the "Netflix of culture", a non-linear television platform with OTT technology (Over the Top), better known as streaming. A custom channel accessible by all digital devices: Smart TV, Tablets, Smartphones, Laptops, and Desktops. Available for Android, IOS, Android TV, Apple TV, and Web.
The Impact
Creation of job opportunities: by funding the Culture Channel, three jobs will be created, aiming to retain talent in the areas of journalism, tourism, and management in the Alto Alentejo region.
Supporting entrepreneurship, creativity, and innovation: with an investment in the entrepreneurial and creative scene of the Alto Alentejo region, which is the sub-region of the Alentejo with the largest population decrease in the country.
Promoting local development: hiring workers based in the Alto Alentejo region will encourage the development of the region. The promoters of the project are hiring regional services and purchasing local products primarily. In addition, they will be live streaming the first Conference on Alto-Alentejo’s Growth, with the goal of reversing the region's depopulation situation.
Promotion of arts and culture: alongside making non-mainstream European and world cultural contents available, Canal Cultura will also focus on promoting regional and Portuguese culture. Access to cultural content is considered a promoter of human welfare and education.
Impact Indicators
1
jobs created
Contribution to the Sustainable
Development Goals
Sustainable Development Goals
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Financial viability
Funds raised through GoParity will work as an advance for the grant from the +Coeso fund, managed by the Ministry of Cohesion. The fund allocated 190,000€ to Letrasímpares projects, making this loan viable. The +Coeso fund is released in tranches, and as soon as the company receives them, it will be able to liquidate the loan.
Download Key Investment Information Sheet
Guarantees
Shareholder pledge
The Promoter
About LETRASÍMPARES LDA
Letrasímpares, Lda was created in 2019 by Paulo Lavadinho. Currently, the company has more than 15 people working on several projects. The entrepreneur was a journalist in RTP, Rádio Renascença, Jornal O Independente and is currently executive director of Letrasímpares.
Despite having the headquarters in Lisbon, the company's director intends to keep a development hub in Elvas (UNESCO World Heritage Site), in order to be located in the region they intend to help develop. Some important steps in this direction are the culture channel, which wants to position itself as the "Netflix of Culture", and the almost ready Cowork BC8 in Elvas, the first coworking space in Alto Alentejo. Some other initiatives include the first edition of the Conference on Alto-Alentejo’s Growth (which should happen every two years) and the first Literary Festival in Alentejo, which will take place on May 4 and 8, 2022.
The Conference on Alto-Alentejo’s Growth will be available in streaming on the platform https://empreendedores.com.pt/ from September 4.
Currently, Letrasímpares overviews the following projects:
Booksfactory (a literary publishing house), the O Clube dos Amigos do Livro (the online store for Booksfactory and Letrasímpares), the magazine Empreendedores.com.pt and BC8 Cowork, which opened last September in Elvas.
Paulo Lavadinho will also launch Canal Cultura, on January 8, 2022, a non-linear television platform with Streaming technology. A custom channel accessible by all digital devices: Smart TV, Tablets, Smartphones, Laptops, Desktops. Available for Android, IOS, Android TV, Apple TV, and Web.
In July, the company published a book by a young author with autism. In these cases, they act partially or fully on a pro-bono basis. The same is happening with a book by Sister Fátima Magalhães of the Teresian Apostolic Movement (MTA), whose proceeds will go to the social work of that movement.
Business Model
In its Business Plan, Canal Cultura expects to reach 10,000 subscribers in two years, which will lead to annual gross revenue of 1,078,800€ (monthly fee will be 8.99€ per subscriber, VAT included at 23%).
At the coworking space, the 10 available desks can generate a potential monthly income of 1,200€. In addition, there are services that add about 500€ and the virtual office project. With which they intend to reach at least, 100 virtual offices in two years, a monthly turnover of 3,500€.
Letrasimpares has international and national partners.
Internationally, the company has French tech partners to support Canal Cultura in the OTT streaming system and partnerships with marketplace platforms where they will contract the licensing of content rights for distribution on the Channel.
In Portugal, the Orquestra Metropolitana de Lisboa, and Casa da Música in Porto, are two examples of content partners for the Channel.
The ICA and Creative Europe (Media Program of the European Union) are other partners with whom they intend to share projects.
In the publishing area, they are members of APEL (Portuguese Publishers and Booksellers Association) and partners of DGLAB - the book sector body of the Ministry of Culture.
Active since
2019
Fiscal country
PT
Operating In
"Portugal"
Industry
Culture
Number of Goparity Loans
2
Women Shareholders
No
Website
https://www.letrasimpares.pt/Updates
2021-11-11
First payment
First instalment was paid to all the investors
2021-10-08
100% funded
412 investors successfully raised 25.000€
2021-10-06
Former RTP (Portuguese Radio and Television public channel) journalist is launching “Netflix of Culture” for 8,99€ a month
Culture Channel is a non-linear television platform with streaming technology. Its founder Paulo Lavadinho has announced that that will be available to subscribers from January 8th, 2021...
Read more →2021-09-29
Open for investment
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