Centurion commits to £5m GamCrowd investment
Gambling-focused crowd-funding and sourcing platform GamCrowd has entered into a partnership with risk management and mitigation services provider Centurion Solutions to invest a fund of up to £5 million (€6 million/$8.3 million) into start-ups on the GamCrowd platform.
Funding will be made up from funds provided by both Centurion and its clients, which include various professional sports and racing trading firms from around the world.
Centurion will also assist with in-country software and product testing to help its clients expand into new markets.
In addition, Centurion has also negotiated certain rights to take an investment in GamCrowd as and when the firm seeks an initial fundraising.
Centurion previously invested in Fox Poker Club, which was founded and run by Chris North, who is now chief executive officer of GamCrowd.
"I am very pleased to be working with Centurion again; they bring massive expertise as well as capital," North said.
“That is what crowdfunding is all about; they would add great value as shareholders of any of our start ups, particularly if they need technical or betting expertise.”
Dennis Verrios of Centurion Solutions added: “We had previously invested in Fox Poker Club which Chris founded and ran, and we were delighted with the returns from that investment.
"We are keen to help our clients take advantage of the current wave of innovation that the gambling industry is experiencing.
“We are keen to invest in GamCrowd if and when the company is looking for money, but we are also excited to invest in some of the most innovative start-ups in the gambling industry.”
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