Venture capital fund Vereeni Investments had made its latest move with a significant investment into Australia’s leading daily fantasy sports operator Moneyball.
The agreement will see Vereeni acquire a majority stake in Moneyball in return for a seven-figure investment.
Launching in 2015, Moneyball was the first Australia-facing daily and weekly fantasy sports operator and is powered by an innovative proprietary platform.
It holds licences applicable to all Australian states and offers a range of contests across multiple sports, including NRL, AFL, EPL, NFL, NBA, PGA, MLB, horse racing, and cricket.
The operator is also expanding internationally with a growing presence in India since 2016, and expects to be live in the US soon with other markets set to follow.
Timothy John Heath, founder and CEO of Vereeni Investments, said: “Acquiring a stake in Moneyball adds another important and complementary asset to the Vereeni ecosystem.
“Moneyball is already established as Australia’s number one daily fantasy sports platform, and we see huge potential for further growth, both in Australia and internationally.
“As an operator that has innovated from the outset, Moneyball is a perfect fit with Vereeni and we are excited to see what the future holds.”
James Fitzgerald, co-founder and co-CEO of Moneyball, said: “We are absolutely thrilled to have Vereeni Investments onboard.
“Becoming a part of the Vereeni family positions us strongly for further growth, giving us access to unparalleled global reach and expertise within the gaming sector.
“Daily fantasy sports is still a massively underserviced sector with potential to grow much faster than the broader market. We have spent the last three years searching for a partner to help us deliver on this potential, and in Vereeni we have finally found one.”
Moneyball joins Vereeni’s €100million ‘Level Up’ tech fund alongside a range of other promising early-stage ventures across the fintech, online gaming, business intelligence, insuretech and blockchain verticals, including Global Gaming, OneTouch and Singular.
Source: Press Release