GamCrowd secures £5m platform investment fund
Crowdfunding and sourcing company partners with Australia-based Centurion Solutions to invest in platform for start-ups
GamCrowd has struck a deal with gaming solutions provider Centurion Solutions which will see almost £5m invested into in start-ups on the crowdfunding platform.
The new fund will consist of funds provided by both Centurion and its clients to assist with ‘in-country’ software and product testing as it looks to expand its clients’ scope into new markets.
The platform went live earlier this year and CEO Chris North believes the deal with Centurion is a significant step to help the more than 25 start-ups currently looking for funding on the platform.
“GamCrowd plans to launch its full crowdfunding platform in May with the full crowdsourcing platform to follow in June,” he told eGaming Review.
“We currently have 25 start-ups that have shown an interest in pitching for investment, 50 investors that have indicated they would invest with a potential investment pool of over £1m, 75 buyers and sellers for the market place with 300 members in total so far,” North added.
North founded GamCrowd in December 2013 after having previously launched Fox Poker Club, the first poker club in London, before selling the business to Genting Casino in 2011.
North was also founder and director or Inside Gaming before closing the business in 2009 due to the economic downturn.
“We had previously invested in Fox Poker Club which Chris founded and ran, and we were delighted with the returns from that investment,” Dennis Verrios, executive director of Centurion, said.
“We are keen to invest in GamCrowd if and when the company is looking for money, but we are also excited to invest in some of the most innovative start-ups in the gambling industry,” Verrios added.
“We intend to build a portfolio which will hopefully include a few winners.”