Marketing software and fantasy sports start-up Premier Punt Group has launched an equity crowdfunding campaign to aid its growth plans.
The firm, which was set up as a fantasy sports operator but has been shifting its focus from business-to-consumer (B2C) to business-to-business (B2B), is running its crowdfunding initiative on the Seedrs platform.
The company said it had surpassed its £250,000 funding target on the first day of the campaign going live to the public, and is now in overfunding up to its “hard capacity” limit of £750,000.
Prior to the fund raising campaign, chief executive John Gordon pitched the business at the tenth annual Engage Invest Exploit (EIE) event in Edinburgh in April. The major event brings together businesses looking for investment and 1,000 potential investors.
Of the 60 or so businesses at the event, the majority received a 60-second slot to pitch their ventures, while nine were selected to give a six-minute presentation, including Premier Punt.
Gordon has been nominated for the NatWest Great British Entrepreneur Awards this year. Among the previous winners of the award is James Watt, co-founder of maverick Scots beer-maker BrewDog.
Gordon said: “The current investment round will enable us to take the business to the next level, develop more games for our clients and strengthen our existing team.
“We are more than satisfied with what we have achieved so far but I now feel it is time to scale up and fully achieve our potential.
“It is obviously pleasing to have received this recognition, both for the company and myself, and it shows we are on the right track but there is still plenty of work to do.”
Last June, Edinburgh-based Premier Punt was awarded a remote casino licence from the Gambling Commission. It had already secured pool betting and sportsbook licences.