London-listed platform provider Nektan has launched a £7.1m financing round to support its expansion in the US tribal and commercial casino market, and the continued growth of its European operations.
The £7.1m package is comprised of £4.7m in convertible loan notes and a placing of 1,044,774 shares. Existing investor Disruptive Tech Limited (DTL) has subscribed for a placing of 358,208 of these shares, which it will take instead of the repayment of £0.6m from its £1.2m loan facility.
The funds will be used in part to aid the company’s growth in the US, where it has partnered Spin Games to launch in-venue mobile gaming with a number of operators. The company has already signed 18 contracts and/or letters of intent with licensed tribal and commercial casino operators.