Good Life Plus raises £750k in strategic investment led by Sportingbet founder
() , a UK-based subscription service offering daily prize draws and discounts on popular goods and services, said it raised £750,000 from a cornerstone investor via subscription to new convertible loan notes (CLNs).
Good Life Plus will issue up to 1.5m CLNs at £1 each. Boatside Investments, a private investment vehicle associated with Mark Blandford, the founder of Sportingbet and 29%-owner of Good Life Plus, has subscribed for half of the total issuance. The remaining CLNs are open for investment until June 10, 2026.
The notes expire on June 30, 2028 and carry a 10% coupon. On maturity, the CLNs can either be repaid or converted to shares at 2.15p (current share price 1.85p). In addition, there will be an automatic conversion of CLNs should conduct a fundraise in excess of £1m, at the lower of 2.15p or the fundraise price, to the extent that Mark Blandford's share remains below 30%.
and Boatside have agreed that conversion will not occur if it takes Blandford's share over a 30% holding in the company, as Boatside's participation is considered a "related party transaction" under AQSE rules.
Charlie Chadd, CEO of Good Life Plus, commenting: "We are delighted to have secured further investment from our largest shareholder, representing both their confidence in our progress to date and the scalability of our business model. This additional capital will support the acceleration of our growth initiatives and the pursuit of new opportunities, driving further upside throughout the remainder of the year. Our focus remains on scaling rapidly, whilst maintaining the best customer experience. With this strengthened position, we are well placed to seize emerging market opportunities and create sustainable value for shareholders."
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Good Life Plus raises £750k from its largest shareholder and industry veteran Mark Blandford, while keeping his interest under 30%. Continued investment by Blandford, founder of Sportingbet, further demonstrates ongoing industry confidence in 's growth strategy, which has already generated significant value.
In March 2025, reported full-year revenues of £3.7m for FY24/25, compared to £1.7m in H1, indicating strong momentum. Monthly recurring revenues surged to £420m in January 2025, up from £330m in July 2024, while subscriber numbers grew steadily, reaching over 40,000 by year-end, compared to 37,000 at the half-year mark.
Positive trading momentum has carried into the current financial year, with March 2025 marking a milestone as the group's first-ever month to generate revenues in excess of £500k. Partnership expansion has also continued, including News UK, Reach, Gambling.com, and a tier-one UK mobile operator, with more high-profile partnerships in active negotiation.
The proceeds from the fundraise will be used to accelerate 's next phase of growth, focusing on customer acquisition, brand and media partnerships, and platform development. The capital injection will support the evolution of 's subscription product, with expected continued improvements in conversion, retention and average revenue per user. Investment in the these areas has already driven rapid subscriber growth, with steadily improving ROI on marketing spend. Customer acquisition costs are also decreasing, while customer lifetime value continues to rise.
Overall, 's high capex at this early stage of growth has already yielded rapid and effective advancements in technology development, content production, and business intelligence, establishing a strong platform on its recently redesigned website, and allowing rapid scaling of revenue streams across B2C and B2B into FY25/26. 's record revenue performance in recent quarters and continued strong investment in customer acquisition underpin significant further upside.
The global lottery and rewards space sector is currently valued at £261 billion, with continued steady growth projected over the next 7 years. is well-positioned within the rapidly expanding market, with its disruptive freemium model enabling low-cost subscriber acquisition while driving recurring revenue predictability, similar to SAAS/B2C models.
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