Scottish entrepreneur turns crowdfunding idea to horse racing
A scottish entrepreneur has applied the crowdfunding model to the world of horse racing to allow trainers and syndicates to fund the industry.
Recently launched Crowd Racing, powered by UK platform crowdcube, will allow groups to offer shares in racehourses to the general public.
Founder Craig McKenna said: “Owning racehorses will no longer be reserved for the rich and famous; now anyone can genuinely own a share of a Thoroughbred for as little as a £75 one-off payment.
“It’s an affordable way to get involved, and of course if you have more to invest, the range of owner benefits goes up, but all owners get their share of any prize money, or the proceeds of any sale of their horse.”
One of the first pitches to go live on the website was Horses First Racing (HFR) with a two-year-old colt (as yet un-named) from Biddestone Stud. T
The pitch target is £75,000 to cover the purchase of the horse and its associated training costs for a year. Leading Australian trainer, Jeremy Gask (now based in the UK) utilises both cutting-edge scientific methods and training tools, as well as making horse welfare a priority.
HFR co-owner Eamonn Wilmott, added: “I’m all behind 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.”
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