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. 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.
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.
Posted from : http://www.crowdfundinsider.com/2014/09/48656-gamcrowd-closes-self-crowdfunding-round-overfunding/