UK-based esports job platform Hitmarker raised 250% of its equity crowdfunding target in just six days.
The target of the campaign was £80,000 for 4 percent equity, though the company set a cap of £200,000 for 9.43 percent equity and successfully met it.
The company now plans to double the amount of full-time employees it has from five to 10 as its expands further into the gaming industry.
Phil Huggan, Founder of Hitmarker discussed the campaign’s success in a release: “What we’re perhaps most excited about is the 24 extra days we now have that otherwise would have been spent managing and promoting the crowdfunding campaign. This sets us up really strongly to attack the wider video game market from the very beginning of 2020, as we can begin to roll out our hiring and marketing plan to take effect in the New Year.”
“Our whole team is blown away by the support we received during this raise. The esports community truly is second to none, and now that we’ve welcomed a portion of our users and followers as shareholders we’re more motivated than ever to get back to work and continue providing exceptional value, not only to them and the esports industry, but also to the broader video game market as well.” Philip concluded
405 investors from 37 countries got involved in the crowdfunding, with the average value of investment coming to £500. Over the period of six days that the campaign ran for, Hitmarker received an average of one investment every 20 minutes.
A separate follow-on raise will be conducted for people in Canada, Japan, and the USA at a later date.
Esports Insider says: We’re not surprised that Hitmarker was successful with its raise, some may argue that the figure it looked for was lower than it could well have been. The fact that it raised 250% of its goal in a fifth of the time the campaign was set to run for says it all: people are happy to support companies that provide a valuable service to the industry. Congratulations to everybody involved!