TopBetta secures new investment for betting platform

TopBetta Holdings has raised an additional Aus$1m (€638,000/US$791,000) to fund development of its global betting platform.

According to ProactiveInvetsors.com, TopBetta will use 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 after TopBetta last month revealed 95% year-on-year revenue growth 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.

Related articles: TopBetta reveals revenue growth in second quarter
TopBetta, The Global Tote secure licences in US