Jade
JadeJournalist at CasinoRange.comPublished DateDecember 2, 2021 | Last UpdatedJuly 7, 2022
Candy Ventures Lead Betconnect Investment

Candy Ventures Leads BetConnect Investment Rounds as New Strategic Business Advisor Announced.

Candy Ventures is joined by other leading investors in backing BetConnect in latest round of funding

BetConnect, a platform that claims to be “the only betting exchange that employs bookmaker odds,” has hired a new strategic business advisor as part of a pre-series A investment round. Robin Chhabra, a seasoned iGaming expert and a former FoxBet CEO, is taking on the challenge.

Candy Ventures has invested in the firm for a second time, this time with the help of a group of worldwide investors, including some of the industry’s most successful exponents, to help support the company’s development into new markets.

BetConnect secure Candy Ventures backing

Among the investors are Tom Waterhouse, the CIO of Waterhouse VC and a notable Australian betting industry specialist; Robin Chhabra, the former CEO of Fox Bet and new strategic business advisor; and Andy Clerkson, a former Fox Bet board advisor and the founder of Grand Parade.
Lastly, Yolo Investments, led by Tim Heath and fresh off their triumph as ‘Gaming Fund of the Year’ at this month’s Europe Gaming Awards, brings this significant investment round to a successful conclusion.

Chhabra’s role as BetConnect‘s Strategic Business Advisor will include assisting the company in scaling its operations, negotiating strategic agreements, acquisitions, and mergers.

As a director of corporate development for Inspired Gaming, Chhabra has a wealth of experience and a proven record of leading some of the most significant mergers & acquisitions, as well as scaling businesses at William Hill and the Stars Group.

Despite his new position at BetConnect, Chhabra will continue to be associated with the public relations and communications firm Red Knot, where he has served as chairman since September of this year.

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BetConnect’s Innovative Vision

An astute businessman and founder of BetConnect, Daniel Schreiber, says: “BetConnect’s growth over the last three years has been incredible, and to have secured investment from such prominent industry leaders will accelerate this growth to the next level. The new funding allows us to develop new products and services to complement the core offering, keeping them all accessible and intuitive to the evolving demands of the end-user.”

Steven Smith, CEO of Candy Ventures, says: “Candy Ventures are delighted to continue backing BetConnect as it enters an important new phase of growth. The platform is transforming online betting transactions and is pushing the boundaries of innovation in an industry that is typically slow to embrace new technology. We are very impressed by the growth of the business to date and have full faith in the team to take the company to the next level.”

When asked about his new role, the newly appointed advisor gave a brief response. “BetConnect is a truly innovative organisation with a transformational ambition and a super-agile platform. Dan and his team offer a transformative vision and a super-agile platform which, combined with their ability to execute, sets BetConnect up for international expansion. For me, this investment constitutes an exciting strategic play in a company that has already laid the firm foundations to strike once exchange regulations do clearly coalesce across US states,” Chhabra explained.

BetConnect is a social betting network that has swiftly surpassed the 20,000-customer mark. Using a single API, gamblers may place bets with numerous bookies on the platform.

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