Copenhagen-based sports betting affiliate firm Better Collective has raised SEK 312m (€32.8m) through a directed share issue of 4 million new shares.
Commenting on the news CEO of Better Collective, Jesper Søgaard, said:
“I am very pleased to see the broad-based interest from both current and new shareholders wanting to invest in our further growth.
“Better Collective has completed 7 acquisitions at a total value of > 125 mEUR since the IPO in June 2018. The proceeds from the transaction allow us to continue the growth path including M&A, which we believe has contributed significantly in placing Better Collective as the leading company within sports betting affiliation.”
The new shares were priced at SEK 78 per share, and the directed issue reflect a dilution of approx.. 9% of the number of shares and votes in Better Collective.
According to the company, the subscription in the issue was “significantly oversubscribed due to high demand from Nordic and international institutional investors.”
Better Collective has been doing particularly well with its recent US acquisitions, reporting a massive 54% growth in year-on-year revenue to €17.1m for Q3 2019. During the same period the affiliate saw new depositing customers breach 85,000, up 27%.
AYO.NEWS says:
Better Collective has to be one of the most active companies in the affiliate space right now.
In addition to its recent US acquisitions, which include RotoGrinders Network, VegasInsider.com and ScoresAndOdds.com (read more), the company has also made a major UK acquisition in the form of mybettingsites.co.uk (read more), entered a partnership with UK-based Telegraph Media Group (read more), invested in safer gambling-focused artificial intelligence company Mindway AI (read more), and announced the expansion of its Serbian office in Niš (read more)!
We’re looking forward to seeing what they do with the newly raised capital! Wondering what drives Better Collective to be so successful? Check out our exclusive interview with Jesper Søgaard, CEO and Co-founder, right here.
AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
