Issuing a market update, the governance of online betting exchange operator Matchbook Group (Matchbook.com) has revealed that it has completed a ‘significant investment transaction’ that will ‘considerably grow the trajectory’ of its business.
Matchbook governance did not disclose the sum of its secured investment, ut stated that through its funding round the company had brought on board well versed strategic investors with strong expertise in horseracing and international expansion.
Over the past two-years the Cork and London based operator has completely overhauled its betting exchange product, making a number of improvements and revamping its betting brand.
Matchbook leadership detailed that the new investment would seek to place the operator as ‘a very credible force in the sports betting market’.
Mark Brosnan, Matchbook CEO, commented on his firm’s future ambitions: “The shackles are well and truly off. The strategic nature of the investment puts us in a very strong position to end Betfair’s dominance of the betting exchange market and comes at a time where Matchbook has launched an industry-leading technology platform.
We have experienced exceptional growth over the last 12 months, driven by the horse racing product that we launched in July last year. This deal will help to further strengthen our overall product offering and allow us to invest in growing the Matchbook brand and accelerate our very ambitious plans to revolutionise the customer experience in online gambling.”