FSB Technology raises £2.6m from industry veterans
Funding round, led by Sportingbet founder Mark Blandford, to finance investment for sports betting platform
Sportsbook platform provider FSB Technology has continued to attracted investment from gambling industry veterans in its third and latest funding round.
Sportingbet founder Mark Blandford led this financing round which comprised 14 other investors, while previous investors have included Betfair co-founder Andrew Black, current Ladbrokes chief executive Richard Glynn and GameAccount Network chairman David O’Reilly.
The company, founded by former GameAccount Network founder David McDowell and CTO Sam Lawrence, raised £2.6m with further investment into its sports betting platform planned.
Having secured a deal to supply Genting Alderney with its sports betting platform, the software supplier is now targeting casino and poker operators as well as media companies as it looks to expand its customer base.
Mid-tier sportsbook operators using legacy systems will also be targeted, with McDowell confident of having identified a gap in the market as sports betting revenues continue to migrate towards mobile channels.
“There are a lot of companies stuck trading on legacy platforms and we are seeing a huge demand for modern technology and turnkey solutions,” said McDowell.
Blandford’s investment comes just a month after it was revealed his latest company Double Diamond Gaming acquired Gala Coral’s remaining four casinos, with the intention for the brand to launch online within the next 18 months.
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