GamCrowd the gambling specific crowdfunding and crowdsourcing platform that launched with a fanfare in early 2014 is delighted to announce that it has “fully funded” its initial crowd funding round via its own platform, GamCrowd.com.
The company has raised £200k for ten per cent of the Equity in the company with a few days still to go in the campaign and the company intends to leave the campaign open for “over funding” until the closure date of September 2 to allow a few latecomers to take advantage of the same offer . CEO Chris North is very happy to have successfully completed the campaign; “we were keen to fund via our own platform and we have now experienced what we are encouraging start-ups to go through. We have learned a lot and rigorously tested our platform and processes and intend to make a few positive changes to the business and the platform following our experience.”
For those that still want to invest in GamCrowd, the minimum investment is £500. The company intends to use any additional funds raised to increase its marketing budget and support the first round of start-ups that will be looking to fund via the platform. Investors need to be registered on gamcrowd.com, have completed a questionnaire and a declaration that they are sophisticated investors or High Net Worth investors. They will then get access to the GamCrowd pitch video, business plan and financial projections. The platform gives potential investors the chance to ask the founders questions about the business and these are all made public so other interested parties can share the same information.