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Candy Ventures invests in BetConnect

Candy Ventures, an investment vehicle founded by Nick Candy, has participated in the latest funding round for BetConnect.

This is the second investment from Candy Ventures who are joined in the latest round by a consortium of heavy-hitting international investors, including some of the industry’s most successful exponents, to fund the next stage of the company’s growth and global expansion.
 
Investors include the leading Australian betting industry specialist, Tom Waterhouse, CIO of Waterhouse VC; the ex-Fox Bet CEO Robin Chhabra; and ex-Fox Bet Board Advisor and Grand Parade founder, Andy Clerkson. Yolo Investments, fronted by Tim Heath, fresh from winning Gaming Fund of the Year at this month’s Europe Gaming Awards, completes this influential funding round.
 
The new financing will be used to accelerate BetConnect’s growth, both in the UK and internationally, supporting its technology and product roadmap over the next 12 months.
Chhabra has also been appointed to the role of Strategic Business Advisor, leveraging his proven record of scaling businesses and leading some of the most consequential M&A deals at both William Hill and The Stars Group.

With a customer base of over 20,000 users, the BetConnect platform brings total transparency to the betting market by enabling users to access odds from all major operators in one place. Users can place their bets through a single account with no need for multiple accounts with different firms. BetConnect users can both back and lay bets on major sports including horse racing, football, golf, tennis and cricket.
 
Daniel Schreiber, Founder of BetConnect, says: “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 new 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.”
 
Steven Smith, CEO of Candy Ventures, says: “Candy Ventures is delighted to continue backing BetConnect as it enters an important new phase of growth. The platform is transforming online betting transactions and is pushing the boundaries of innovation in an industry that is typically slow to embrace new technology. We are very impressed by the growth of the business to date and have full faith in the team to take the company to the next level.”
 
Tom Waterhouse, CIO of Waterhouse VC, says: “BetConnect is at the forefront of a betting revolution that’s sweeping the industry. 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.”
 
Former Fox Bet CEO, Robin Chhabra, says: “BetConnect has 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. 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.”
 
Tim Heath, GP at Yolo Investments, adds: “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.”

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