Hitmarker reported that in seven days of equity crowdfunding, the esports and gaming site earned £521,283, beating its initial goal by 260 percent.
The UK firm is investing in key markets like Brazil, Spain, and the Asian Pacific. The investment will be expanding its service.
487 investors from 50 countries invested in Hitmarkers’ campaign on Crowdcube, with a member investing £250,000.
The announcement notes that the investment comes from a major figure in the industry whose identity will be demonstrated after the procedure and the legal examination of Crowdcube has been carried out.
The company initially intended to collect at least £200,000 on a 4% stake. After raising the sum twice, Hitmarker has surpassed its equity crowdfunding goal for the second consecutive year. Investment in 2020 is 2.5 times higher than its valuation in November 2019 compared with last year’s campaign.
“We were much more optimistic than we were last year, Richard Huggan, Managing Director at Hitmarker commented on this announcement. Not just because Hitmarker is already working in a much broader market, it also has a network of existing investors.
“Nevertheless, all of us were blown away by our community’s reaction, as well as the broader video gaming industry. We would like to thank those who have placed their trust in us and pledge that we shall continue to work hard to reward him.”
Although Hitmarker concluded the round early, and now plans for its extension, while the crowdfunding campaign lasted 30 days.
Richard Huggan, CEO & Managing Director said, “We came into this raise much more confident than we were last year. Not only due to having a network of existing investors, but also because Hitmarker is now operating in a much wider market.
“We have many goals that this money is going to help us achieve. We will not only create new platforms for unique areas but also a whole host of new features. We all look forward to expanding our team, enhancing our product, and continuing to support video gaming and esports culture.”