Gamblit Gaming raises $12m venture funding

gamblitUS based social gaming developer has acquired $12 million (£ 7.3 million) in venture funding , as the developer looks to build its real money gaming platform.

Based in Glendale California, Gamblit Gaming aims to open its platform to game developers who want to add real money mechanisms to their game portfolio. Once integrated in the platform, Gamblit will promote the games to jurisdictions that allow online gambling – such as Europe.

Set up in 2010 by founder David Chang, Gamblit Gaming has so far raised $20 million (£12.6 million). The latest round of funding has been undertaken with Venture Capitalists American Capital.

David Chang CEO, stated that its latest platform would be launched in the coming months. Gamblit will be competing against US start-up Betable, who aim to develop real money gaming mechanisms for popular social games. Gamblit will be seeking strategic partnerships with online gaming operators and B2B providers, as it looks to extend its network.

With regards to the investment David Chang commented “It seems like there’s a lot of interest here The space we are in is heating up. People want to invest in this space.”

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