Playfinder, a UK-based sports club platform and mobile app, has closed its equity crowdfunding campaign on Crowdcube with a total of £733,550 in funding secured. The funding round attracted 224 Crowdcube investors.
Since launching in 2014, Playfinder has reportedly helped 2.3 million of its platform’s users find somewhere to play and is now generating £170,000 of bookings per month, growing at an average 8.5% month-on-month since January 2018. Playfinder has generated £1.6 million in bookings in the last year through the platform/app.
“Sport and exercise are a winning formula for improving all areas of life. They increase self-esteem, mood, and also help sleep. Performance at work is onto a winner too as a study showed that people who exercised during work hours reported that their concentration increased by 21% and furthermore, 41% felt more motivated on days they exercised.”
Speaking about the platform funding round, Jamie Foale, Playfinder CEO and Co-Founder, stated:
“We believe in the power sport has to make a real difference to everyday life and the fact we hit 112% overfunding shows our community shares that passion. The business idea came from my personal frustrations of being unable to find anywhere to play sport and technology has provided a solution. We welcomed 224 new investors to our community who will play a part in our future and help build a healthier society through sports.”
Playfinder offered 9.08% in equity with a £7,341,163 pre-money valuation.
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