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TopBetta Holdings which engages in the online racing and sports wagering businesses in Australia raised an additional Aus$1m (€638,000/US$791,000) to foster the advancement of its global betting platform.
ProactiveInvetsors.com stated that “TopBetta will utilise the funds for working capital and to enhance its future cash flow obligations.”
TopBetta was able to secure the latest investment via a placement of shares at Aus$0.285 each to both sophisticated and institutional investors.
The move comes on the heels of TopBetta revealing a 95% subsequent revenue growth, the preceding month for the second quarter.
In August of last year, TopBetta was also able to pick up US licences for both its TopBetta Pty and The Global Tote brands.
Source: European Gaming Media and Events