Racehorse ownership company All About Sunday is seeking to raise €800,000 in a crowdfunding campaign to help democratise the industry.
The company, which provides an affordable way for fans to invest in the sport through fractional ownership of a horse, is raising money via the Spark Crowdfunding platform. The move comes following the growth of the platform, which is valued at €2 million and saw subscriber numbers grow 400 per cent growth in the past 12 months.
Al About Sunday has already raised €550,000 through the campaign.
The app offers access to live content, streamed videos, track and stable information. Potential investors can buy shares in horses for €59, renewed annually.
The company was founded by entrepreneur Darren McGrath, and includes a team of horse racing experts, technology developers and executives.
“The business has been built with the consumer journey and experience at the heart by looking at it from a benefits to the consumer perspective. Apart from owning a share or shares in a racehorse, we provide weekly updates, including performance analysis and data, all delivered directly via the All About Sunday app,” said Mr McGrath. “Our members can see exactly how their racehorse is training, with a calendar that details where and when their horse is next scheduled to run.”
The company has signed agreements with elite jump trainers, including Paul Nolan, Jack W Davidson and Gordon Elliot.
Equity crowdfunding allows small to medium-sized investors to invest anything from €100 upwards in a company in return for shares in that company. Spark Crowdfunding has more than 10,000 investors on its database and has raised funds for 32 Irish start-ups in the past four years.
“Our mission is to make it easy for high potential Irish businesses, such as All About Sunday, to secure funding for growth in a simple, quick and low-cost manner,” said Chris Burge, chief executive of Spark Crowdfunding. “All About Sunday now affords an opportunity to capitalise on the potential of what is a lucrative and growing global horse racing market, valued at $300 billion in 2019. The business is on a mission to democratise racehorse ownership for all types of consumers, from the fanatics to those with just a passing interest in the sport of kings.”
