The value of the undisclosed, “non-controlling interest equity stake”, is €7.0m (£5.8m/$7.6m), with Enteractive saying that the investment will boost the company’s “pace and capability to scale globally”.
The cash injection will help Enteractive, which provides custom-made technology to igaming operators worldwide, to grow in key US, Latin American and Asian markets, the company said.
Just over a year ago, Yolo Investments, which was founded by Tim Heath, launched a sub-fund focused on the gaming and financial technology sectors.
Before launching the sub-fund, Yolo Investments had already acquired stakes in casino content studios OneTouch and Green Jade Games, as well as the Bombay Club live casino business.
“Tim and his team have done a great job in challenging conventional thinking and pushing the industry forward with new ideas and a good portion of enthusiasm,” said Mikael Hansson, founder and chief executive of Enteractive.
“We believe that we can further accelerate our already strong growth with their added knowledge and strong network.”
Heath, Yolo Investments’ chief executive, added: “We love businesses which find creative ways to add value for their partners, and that’s why Enteractive is such a natural fit for the Yolo Investments network.
“Retention and reactivation are challenges facing many of the companies we’ve already invested in, and we see significant opportunities to build synergies and help Enteractive develop into a global industry leader across many more markets.”
Original article: https://igamingbusiness.com/yolo-investments-snaps-up-enteractive-stake/
