Playfinder funding tops £3.5m after crowdfund
Sports technology firm Playfinder is planning UK-wide expansion after reaching its crowdfunding target.
Playfinder raised £733,550 to reach 112 per cent of its crowdfunding target and take its overall funding to more than £3.5 million following an earlier private equity raise of £2.85m.
Playfinder says only 35 per cent of sports facilities are bookable online or through an enquiry system. Based in London, its search and booking platform is looking to change that.
Since launching in 2014, Playfinder has helped 2.3m people find somewhere to play and is now generating £170,000 of bookings per month, growing at an average 8.5 per cent month-on-month since January 2018.
The cash injection will underpin the company’s growth strategy in 2020 and help establish the service across the UK.
“We believe in the power sport has to make a real difference to everyday life and the fact we hit 112 per cent overfunding shows our community shares that passion,” said CEO and co-founder Jamie Foale.
“The business idea came from my personal frustrations of being unable to find anywhere to play sport and technology has provided a solution.
“We welcomed 224 new investors to our community who will play a part in our future and help build a healthier society through sports.”
Playfinder has more than 4,200 partner facilities and says it launched an industry-first offering, Search by Time, in 2017.