Gratitude, a Firm Offsetting Carbon Emissions by Giving Cashback for In-game Purchases, Acquires £149,570 via Crowdcube

Gratitude, which aims to help offset carbon emissions by allowing users to “receive cashback from in-game purchases,” has raised 54% (£149,570) of its £275,000 target (at the time of writing) from 132 investors through a crowdfunding campaign carried out via Crowdcube with 22 days left in the sale.

Gratitude explains that it invests and donates to “environmentally sustainable goals.” The company also noted that an average gamer “uses 1400kWh p/a, collectively, this global usage is equivalent to the whole energy usage of the USA each year.” Based in the UK, Gratitude reports a £3,000,000 pre-money valuation, 8.40% Equity, EIS, and a £0.26 share price.

Here are the key business highlights shared by the firm:

  • 2.7+ billion gamers globally and growing annually, average monthly user spend ~£30
  • Prototype built and MVP in development, aiming to launch end Q2 2022
  • £173+ billion annual industry spend via online gaming, growing by 60% p/a
  • Letters of intent from WWF, Born Free, Shark Trust, Coral Reef Alliance and more

As clarified in the update, £112,500 of funds on the progress bar ‘represent funds raised by the Company prior to launching the campaign.” The company has “already received these funds and shares will be issued whilst the campaign is live,” the update noted while confirming that “completion of the Crowdcube raise will occur on the same material terms and share price.”

The firm also mentioned:

“Gratitude’s concept came from our founder, Craig’s children constantly asking for money to buy items through online games. With a background in financial services and after spending £320 on these items in 1 month, he decided to design a solution where cashback from these purchases could be invested and donated to environmental charities.”

According to the firm, the market potential “is huge, with 2.7 billion gamers globally, we have calculated the monthly spend per gamer averages to £30.”

As noted by the company:

“Currently in development, we aim for cashback to be directed into a personal investment fund, concentrating on ESG’s. Our mission is to give the user the opportunity to invest in funds which focus on positive returns for the environment. A portion of the cashback will go to charities, chosen by the user. Turning intangible purchases into tangible real life projects, we aim to align with the UN’s SDG’s.”

The firm added that they plan for Gratitude’s revenue to be “via commission and aim to donate 10% of [their] net profits to charities annually, helping to protect our planet by addressing the carbon footprint of gaming.”

The firm also noted that their raise will be “used to develop an interface for a game platform/developer, launching [their] company, hiring staff and to enhance [their] marketing and social media presence.”

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