Betify, Fenway Games launched on GamCrowd crowd-funding platform

Betify, Fenway Games launched on GamCrowd crowd-funding platform

Tuesday, October 14, 2014

Gambling-focused, crowd-sourcing service GamCrowd has launched start-ups Betify and Fenway Games on its equity crowd-funding platform.

Betify, which is a mobile application that allows users to set or receive challenges from their friends and win rewards if their challenge becomes popular in the community, has been shortlisted for next week’s Start-Up LaunchPad competition at EiG (Excellence in iGaming) in Berlin, Germany.

The company has already raised £185,000 via incubation and seed funding rounds, but through GamCrowd it is looking to add another £300,000 in return for 15% equity stake from investors as it prepares to launch.

Fenway Games is a developer of real-time, mobile and social products that operate during live sporting events and offers a high turnover of wagering opportunities. The company’s flagship title, SwitchPlayed, allows small stakes to be wagered in-play.

Fenway Games’ anticipated revenue streams are through in-app advertising, virtual goods purchases and customer conversion to mobile sportsbook, and the company is pitching for £50,000 of investment to fund product build, data feed subscriptions, marketing, design and consultancy ahead of going live early next year.

“Betify and Fenway Games prove that innovation is alive and well in the gambling industry,” GamCrowd chief executive Chris North said.

“Launching both companies simultaneously demonstrates the breadth of portfolio opportunities offered by the GamCrowd platform.

“The two companies are two entirely different propositions. Betify is a more developed product requiring a greater level of backing, while Fenway Games might appeal to investors looking to get involved in a project at an earlier stage.”

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