GamCrowd, the UK-based equity crowdfunding platform for the gaming industry, has announced that it has closed its initial equity crowdfunding round after successfully ‘self-funding’ on its own platform, GamCrowd.com. The company overfunded by 15% and CEO Chris North is pleased to have successfully completed the campaign. The offer was listed in July seeking to raise £200,000 for 10% equity in the business.
North said, “We have proven our platform and recruited 44 top quality investors from the gambling industry including big names such as Simon Collins, Brian Mattingley, Ebbes Groes, Mark Blandford, Tom Hall, Melissa Blau, John Kinder, Matt Davey and many others. We are now getting ready to put some exciting start-ups live on the site and helping them to raise funds for their business.”
With the mission of bringing crowdfunding to the gambling industry, GamCrowd joins the ranks of a rapidly growing alternative finance industry. According to the UK Alternative finance benchmarking report, the UK alternative finance market provided £463m worth of early-stage, growth and working capital to over 5,000 start-ups and SMEs in the UK between 2011-2013. In addition, Equity-based crowdfunding grew by 618% from 2012-2013.
Having successfully raised just short of £230,000 seed round, GamCrowd will now attend the Excellence in Gaming show (EIG), on 21-23rd Oct where they will be supporting the Launch Pad and Start-up Villages in partnership with organisers Clarion Events.
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