Crowdfunding first as platform offering shares in racehorses launches
Crowd Racing to open up racehorse ownership to the public
A crowdfunding platform offering shares in racehorses to the general public has launched today, marking a world first for the industry.
The site, Crowd Racing, allows racehorse trainers and syndicates to raise funding for horses they want to put into training in return for equity shares made available to ‘crowd’ investors.
Investors can back shares in individual horses or build up a portfolio of horses across multiple trainers and will share in any prize money earned, as well as a share in any proceeds from the sale of a horse.
Perks such as stable visits and race day tickets will also be offered alongside the investment opportunity.
The niche crowdfunding site was created using technology provided by leading equity crowdfunding platform, and 2013 Startups Award winner, Crowdcube, with similar partnerships to support the growth of vertical crowdfunding models predicted.
Craig McKenna, Crowd Racing founder, commented: “Crowdfunding is growing in popularity as a way for young businesses to raise finance from ‘the crowd’. Now Crowd Racing is taking this model into the wonderful world of horse racing.
“Owning racehorses will no longer be reserved for the rich and famous; now anyone can genuinely own a share of a Thoroughbred.”
Horse First Racing (HFR) is one of the first pitches to go live on the site and is looking for £75,000 to cover the purchase of a two year old colt. HFR co-owner, Eamonn Wilmott, discussed its decision to use Crowd Racing:
“It brings a fresh approach to something that already works really well and gives UK-based racehorse trainers and syndicates a new pool of potential owners.
“We are very keen, through the use of videos and the latest tracking technologies, to demystify all aspects of being a racehorse owner.”