Abreu advises impactMarket on investment rounds and IDO

Abreu Advogados has advised impactMarket on investment rounds and the IDO (Initial Decentralised Offering)

pjimage 2022 01 10T120652.952Abreu Advogados has advised impactMarket on the IDO (Initial Decentralised Offering) of $PACT utility tokens on the “Polkastarter” platform. The firm also advised on the seed investment round worth €1.15 million, in which this web 3.0 company was valued at €13.2 million.

impactMarket is a protocol to fight poverty that enables the implementation of financial inclusion mechanisms, such as unconditional basic income (RBI), in vulnerable communities. Based on Blockchain technology, this protocol is managed by a decentralised, open and transparent network that supports disadvantaged societies through donations. Through the association between RBI and the Blockchain technology, impactMarket allows donors to monitor the real impact of their donations and grant beneficiaries access to a source of financing without resorting to intermediaries.

So far, impactMarket has distributed more than one million euros to 135 communities around the world, with donations from around 600 funders, helping to lift around 23 thousand people from 25 different countries out of extreme poverty.

The Abreu team involved in these operations was coordinated by Diogo Pereira Duarte (pictured left), professional partner and coordinator of the FinTech practice area, and Hugo Teixeira (pictured right), professional partner of the M&A practice area and coordinator of the Start-ups sector.

Michael Heron