Following the launch of the business in January, GamCrowd has now opened its registration site for potential investors and start ups for its crowdfunding service and also for buyers and sellers of services on its gambling specific crowdsourcing site.
CEO Chris North explains the company’s approach “We are launching in two phases – we are taking registrations from start ups and investors now but won’t start matching the two groups for a month or two” says Chris. “We need some time working with the start ups to ensure they are GamCrowd Fit. Once we have a sufficient number of quality start-ups and a pool of registered investors we will launch phase 2 and start matching investors with entrepreneurs”
GamCrowd Fit is a process which the company makes all of its start ups go through before they can publish their pitch on GamCrowd. This process doesn’t guarantee success for a start-up; however, it does ensure that all of the pitches are presented in a standard format with all of the information an investor should need. It ensures that claims made have been challenged, that the maths in the financial projections is correct and that some standard accounting practices are followed. The GamCrowd Fit process will also see the start-up paired with someone with experience in that sector of the gambling industry who will provide some feedback and advice and will advise GamCrowd if they believe that the start-up has a good chance of success in obtaining funding. Not every start up will pass and be allowed to publish their pitch.
GamCrowd, which is now an Appointed Representative of Resolution Compliance Ltd, authorised and regulated by the FCA, has been approached by lots of start ups and is now working to get them through the process.
In addition to opening its site to start ups and investors, GamCrowd is also allowing buyers and sellers of services to register for its crowdsourcing service; GamCrowd Marketplace. The company hopes this will be an exchange for specialist gambling industry skills which will benefit start ups and more mature gaming operators. Chris is a huge fan of crowdsourcing, having used it extensively in developing GamCrowd, “Our logo, design work, videos, testing and many other elements of GamCrowd.com were crowdsourced and some big companies are starting to use it extensively. I believe it can make a huge impact on our industry”
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Investing in start ups involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and it should be done only as part of a diversified portfolio. GamCrowd is targeted solely at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. This page has been approved as a financial promotion of the GamCrowd platform by Resolution Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity, and the summary information provided about investment opportunities is intended solely to demonstrate the types of investments available through GamCrowd. Any investment decision should be made solely on the basis of the full listing for that particular investment opportunity. Full listings are available to authorised investors only.