PlayUp completes successful private capital raise of A$12.5 million
PlayUp Limited (the “Company”) is pleased to announce it has successfully completed a significantly over subscribed private capital raising of A$12.5 million (“Capital Raising”).
The Capital Raising received very strong support from new and existing, institutional and high net worth investors, including several investors with a strong pedigree and track record in the betting entertainment industry.
The Capital Raising will fund the Company’s launch and expansion into the US market.
PlayUp’s CEO, Daniel Simic, commented: “We are very pleased with the outcome of what has been a highly successful capital raising for the Company. We want to thank existing shareholders who participated in the Placement and welcome new investors to the register for the next stage of PlayUp’s growth, being our launch into the US market.”
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PlayUp is a next generation entertainment and technology group that enriches the lives of its clients by providing an entertaining, rewarding, and responsible online betting service. At its core, PlayUp develops innovative betting technologies in-house to power its brands and deliver world-class user experiences. Its energies are focused on fulfilling the needs of dedicated and passionate users who seek a deeper connection to the games they play.
PlayUp’s mission is to unify online betting into one platform inclusive of Sports Betting, Fixed-Odds Racing (Horses and Greyhounds), iGaming, Esports and Daily Fantasy Sports (DFS) where it now hosts Australia’s largest and indeed some of the world’s biggest prize pools in competitive peer-to-peer online betting.
The company holds online betting licenses in multiple jurisdictions and currently operates in Australia, New Zealand, India and several regulated USA states.