Transaction Details

April 1, 2017
London Sloane St

Sector

Digital Media and Media

Deal Type

Fundraise

Deal Value

N/D

Deal Team

Martin Larsson

Equity fundraising for Kwiff (Eaton Gate Gaming)

Kwiff: Native mobile sports betting app

Kwiff is a native mobile sports betting app available in the United Kingdom on both iOS and Android.

Its mother company, Eaton Gate Gaming, was founded in 2015 by industry veterans Anders Ström (founder of Unibet and co-founder of Kambi) and Karl Engström (senior marketing and product/innovation positions at Unibet and MTG) who combine more than 30 years of experience in the gaming market.

With the aim of challenging the way players bet on sports, Kwiff combines an innovative UX/UI platform, proprietary technology, user data and external sports feeds to create a truly unique experience.

It offers a bespoke and intuitive mobile-only gaming solution that brings casinofication and instinct to the sports betting industry, and ultimately yields higher audience engagement: Kwiff allows its users to place a bet in only 3 clicks, and all odds can be randomly supercharged (“kwiffed”) when a bet is placed.

Equity financing to support Kwiff’s growth

Following a seed financing round in the summer of 2016 from a small number of venture capital companies and angel investors, Eaton Gate Gaming retained GCA Altium to raise additional capital and accelerate Kwiff’s development.

In April 2017, undisclosed new investors (alongside existing shareholders) participated in an equity fundraise.

The proceeds of this transaction will be used to drive the marketing strategy and brand awareness campaigns for Kwiff, as well as to continue investing in R&D to always be at the forefront of product development.

GCA Altium acted as sole advisor to Eaton Gate Gaming.

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