GamCrowd Launches Crowd Funding Campaign
GamCrowd, the crowd funding and crowdsourcing platform dedicated to gambling, has launched its own crowd funding campaign in order to raise funds for their own platform.
In exchange for donations, GamCrowd is offering those who donate equity in the company. It is hoping to raise £200,000 in exchange for a total of 10% ownership.
The CEO of GamCrowd, Chris North, said, “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.”
According to GamCrowd’s own policy, if the money isn’t raised with the 60 days’ deadline set by the company then all the money will be returned.
In order to donate, it is necessary to register, complete a questionnaire and sign a declaration stating that the donor is a sophisticated or High Net Worth investor.
There is the opportunity to ask the founders of GamCrowd questions about the business via the platform and North believes that this is what lies at the heart of crowd funding, “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.”