Good Life Plus Raises $2.57M in Mark Blandford-Led Subscription Round

Good Life Plus, an innovative luxury prize draws brand, has unveiled a subscription raise of £2.03 million ($2.57 million). The raise was led by Mark Blandford, founder of Sportingbet (now Entain). The subscription included a total of 90,222,223 ordinary shares of £0.001 at a price of 2.25p each.

The new shares should be admitted by March 8, if approved by the Aquis Stock Exchange.

Blandford, through his private investment vehicle Winforton Investments, contributed £2 million of the total sum. This would effectively put Winforton in control of 17.9% of Good Life Plus’ expanded share capital.

In the meantime, Good Life Plus will leverage the proceeds from the transaction to bolster its operations and improve its rewards model. The innovative luxury prize draws brand will seek to grow its business and attract more clients. Some of the money will be set aside for general working capital.

Good Life Plus’ CEO Was Excited about the Arrangement

As first reported by the news outlet EGR, Good Life Plus’ chief executive, Charlie Chadd praised the investment. Chadd added that this money will “significantly boost” his company’s growth capacity.

It enables strategic enhancements in our operations, fostering more partnerships and pioneering new reward and incentive models.

Charlie Chadd, CEO, Good Life Plus

Chadd lauded Blandford as a respected investor and thanked him for his trust in Good Life Plus. He pointed out that his investment came just after the strategic appointment of David Craven as chairman of the brand.

Chadd concluded that his team remains bullish on driving innovation and revolutionizing the prized draw and rewards landscape.

Good Life Plus Continues Its Rapid Growth

The subscription raise comes three months after Good Life Plus’ successful initial public offering that established a £12 million market cap. Before the IPO, the company sported some 21,000 subscribers and was already rapidly growing. Its revenues also suggested a robust business model, prompting the eventual IPO.

Formerly known as Semper Fortis Esports, Good Life Plus is the brainchild of Charlie and Joe Chadd. The disruptor brand offers a “freemium” subscription-based model that has proven very effective in channeling new customers toward its platform. Unlike the UK National Lottery, Good Life Plus offers daily rewards, providing subscribers with a daily dose of engagement and opportunities to win big rewards.

Blandford’s trust in Good Life Plus’ business attests to the potential of the disruptor brand’s concept and model. The new investment sets Good Life Plus up for further growth and a year-on-year increase in financials.