GamCrowd launches first wave of start-ups on crowdfunding platform
GamCrowd.com has launched the first start-ups, Betify and Fenway Games, on its equity crowdfunding platform.
Betify is a mobile app that allows users to set or receive challenges from their friends and win rewards, such as tech products and vouchers or trips and experiences, if their challenge becomes popular in the community.
The network can be exploited by businesses wanting to target new locations, engage with users, encourage loyalty and promote their products in the Betify reward centre to boost sales. Analytics help brands learn about customer interaction with their products, key demographics, viral spread, return on investment, and other metrics.
Betify, which has also been shortlisted for the forthcoming Start-up Launchpad at EiG, has already raised £185,000 via incubation and seed funding rounds. Through GamCrowd, it is looking to add another £300,000 in return for 15% equity from investors, as it prepares to launch.
The company plans to drive revenues through B2B contracts with brands that will subscribe to its premium content and B2C sales to individual users who will spend on in-app purchases. The app soft launched on September 22 and has more than 200 members and five strong B2B prospects.
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