ClearStake completes seven-figure funding round to further company growth
Financial services provider secures funding from current and former senior execs at operators including Flutter and PointsBet
ClearStake has secured a seven-figure sum from its latest funding round, which the company said would allow the business to grow further.
Founded in 2020, ClearStake’s latest round of funding has seen investment from former and current senior execs at Flutter, Paddy Power, PointsBet, Stats Perform and EML Payments.
The company’s mission is to shorten the length of time it takes for igaming operators to process new players and reduce the amount of potential new customers that drop out when asked to share their financial information.
ClearStake’s open banking tool is designed specifically for the gambling industry, and helps to increase the number of players who opt-in when asked to share their data for approval.
In this way, the service aims to reduce the number of players lost by operators when asked to share financial information, a common problem for gambling operators, especially in light of the ongoing debate within the industry surrounding affordability checks.
Following the backing, ClearStake now has its sights on international growth within the gambling industry.
Martin Burt, ClearStake CEO, said: “We are delighted to have secured additional funding for our journey, which will enable us to deliver our solution to a greater number of operators.
“We are lucky to have an investor group consisting of prominent industry experts who understand the potential of our technology globally and are on board with our vision of solving the challenge of requesting financial data from players.”