Crowdfunding Site GamCrowd Self-Crowdfunds (Infographic)

Gambling Specific Site GamCrowd looks to raise funds on own platform.

GamCrowd the gambling-specific crowdfunding and crowdsourcing platform that launched ear lie this year has launched a self-crowdfunding campaign to raise funds for their own platform. Following in the path of several very high-profile platforms, GamCrowd is “practicing what they preach” and offering equity in the young company.  GamCrowd is seeking an investment of £200,000 for 10% ownership stake in one of the only crowdfunding platforms targeting the global gaming industry.

CEO Chris North explained the reasoning behind the campaign;

“we have been very keen from the outset to fund this via our own platform, we want to experience what we are encouraging start-ups to go through, test both the platform and concept for ourselves and bring in a wide range of shareholders who we hope will support the business.”

GamCrowd is an all-or-nothing equity crowdfunding site so if the money isn’t raised within the 60 days’ timeframe that the company has chosen then any pledges are returned. Similar to other equity crowdfunding sites, potential investors must be registered on GamCrowd and have completed a questionnaire and signed a declaration that they are sophisticated or High Net Worth investors.

The platform gives potential investors the chance to ask the founders questions about the business [these are all made public so other interested parties can share the same information].

This is the essence of crowdfunding according to Chris, “the process of asking and answering questions exposes the start-up to “the crowd” often making positive contributions to the plan. The investors get to build a relationship with the company which will hopefully lead to on-going support for the business.”