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Successfully funded
overfunded
Racefully
  • Equity
128%
Raised
£160,800
Investors
125
Target
£125,000
Equity
7.90%
Pre-money valuation
£1,874,585

Racefully is re-imagining social fitness. Their new app allows users to exercise together virtually, in real-time, wherever they are around the world. With proprietary IP and clear B2C and B2B revenue channels, the company has already secured investment from the ex-COO of Skype and ex-MD of Gumtree.

  • Patent pending system that adjusts for differences in route
  • 4,250 registered users pre launch 
  • B2C and B2B monetizing strategy
  • Top 5 Crowdrating ranking
Information Racefully has requested an extension for their campaign by an additional 14 days, ending on the 30th of August 11:59pm. For further info please contact Racefully via the forum or the messaging feature.

Idea

Racefully lets you run virtually with friends in real time - wherever they are in the world.

Current fitness apps offer a largely solitary experience and leave little room for the social benefits of running. We believe that technology and human connection have the power to engage runners in ways that stats-based fitness tracking alone can never achieve. Studies show that people who keep fit together enjoy themselves more and achieve better health outcomes. In short, running is an increasingly social activity, and Racefully’s social virtual fitness experience sets us apart from the competition. Racefully ensures there’s always someone great to exercise with, and uses a patent-pending system to immerse participants in the competition and camaraderie of exercising together, adjusting behind the scenes for differences in route, gradient and conditions.

- Existing angels include the previous global COO of Skype and the previous UK MD of Gumtree

- Ranked by Crowdrating as one of the top five companies on any crowdfunding platform in the UK in January 2016

- Winner of London Sport Technology Innovation Fund 2016 Award

- One of six companies selected (out of over 200) for TechnoGym's 2015/16 Wellness Accelerator

- 4,250 users registered pre-launch[9]; we’ve achieved an average per-user cost of 50p for the 2,500 added since Feb 2016

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Racefully has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.