BetConnect attracts leading gaming investors1st December 2021 9:58 am GMT
UK-based betting exchange operator BetConnect has secured funding from multiple international investors as it bids to expand its global footprint.
The company has secured new investment from Australian sectoral specialist Tom Waterhouse, CIO of Waterhouse VC, ex-Fox Bet CEO Robin Chhabra and ex-Fox Bet board advisor and grand parade founder Andy Clerkson. Tim Heath's Yolo Investments also participated in the funding round, bolstering re-investment from Candy Ventures.
The new financing will accelerate BetConnect’s growth, both in the UK and internationally, supporting its technology and product roadmap over the next 12 months.
“BetConnect is at the forefront of a betting revolution that’s sweeping the industry,” said Tom Waterhouse.
“The Waterhouse VC Fund endeavours to generate capital growth by holding long-term strategic investments in companies that can reinvigorate tired thinking and disrupt the norm. The BetConnect model improves the experience for international customers, and can be flexibly adapted to accommodate blockchain assets and the inherent crypto benefits of better margins, lower transaction costs and faster withdrawals.”
Yolo Investments' Tim Heath added: “Yolo Investments has quickly gained a reputation as a natural home for early stage, high growth gaming businesses, and BetConnect absolutely fits the bill. The platform is already performing strongly in the UK, and with the backing of some of the biggest names in the industry, BetConnect is ready to take the next step.
We plan to work closely with the BetConnect team, leveraging the Yolo Investments network, to help them along the way.”
Robin Chhabra, who has also been appointed as strategic business advisor, said that BetConnect offers a genuinely innovative product that has been stress-tested in the UK’s ultra-competitive marketplace.
"Dan and his team offer a transformative vision and a super-agile platform which, combined with their ability to execute, sets BetConnect up for international expansion,” Chhabra explained. “For me, this investment constitutes an exciting strategic play in a company that has already laid the firm foundations to strike once exchange regulations do clearly coalesce across US states.”
Commenting on the new investment, BetConnect founder Daniel Schreiber said: “BetConnect’s growth over the last three years has been incredible and to have secured investment from such prominent industry leaders will accelerate this growth to the next level. The BetConnect platform already offers players the ability to choose from best odds from all major bookies.
“But this funding gives us the opportunity to develop new products and services to complement the core offering, keeping them all accessible and intuitive to the evolving demands of the end user. It also allows us to focus on a community-first approach which ensures that new developments will resonate with our users.”