Centurion Solutions, a company comprised of some of the largest professional sports and racing trading syndicates, has signed an agreement to invest up to £5m into start-ups looking to raise funds through the gambling crowdfunding platform GamCrowd.
The £5m fund will be made up using money supplied by Centurion itself, as well as its clients. It will use the crowdfunding platform to assist with the development of gambling software and product testing, designed to help its clients expand into new markets.
The operator has also agreed the rights to invest in GamCrowd itself should the company look to complete a funding round.
Centurion previous invested in the Fox Poker Club, which was established by GamCrowd founder Chris North.
The company’s executive director Dennis Verrios explained that Centurion was keen to help its clients take advantage of a wave of innovation in the gambling industry, adding that the company had been “delighted” by the return on investment from the Fox Poker Club.
“We are keen to invest in GamCrowd if and when the company is looking for money, but we are also excited to invest in some of the most innovative start-ups in the gambling industry,” Verrios continued. “We intend to build a portfolio which will hopefully include a few winners.”
GamCrowd’s North said he was pleased to once again be working with Centurion, who he said brought “massive experience” as well as capital.
“That is what crowdfunding is all about; they would add great value as shareholders of any of our start ups, particularly if they need technical or betting expertise,” North added.
GamCrowd claims to have signed up around 25 start-ups looking for funding to date.