ParlayBay raises €3.5 million to fund future growth plans

Malta-headquartered sports betting games provider ParlayBay has secured a €3.5 million investment to accelerate its growth plans.

The latest funding round has been secured from an unnamed group of industry leaders and will allow the company to improve its product suite, which includes in-play micro betting markets such as Streak, Stack’Em and Hotbets.

Recent partnerships include a number of Asian-facing deals with operators such as Dafabet, M88 and most recently 96.com.

“We are very pleased to have raised a significant amount in our latest funding round, particularly during such challenging economic times,” said ParlayBay executive chairman Fredrik Elmqvist, who previously founded Yggdrasil. “Thousands of players are enjoying our products and the unique betting experiences they provide, which is the main reason why we have been able to secure this additional investment.

“As we make a concerted effort to expand our presence in Europe, this injection of funds will certainly help us ramp up our growth here and in other regions we are looking to expand into in the future.”