Compliance startup Letzz secures investment from former Kindred Group CEO
Henrik Tjärnström’s “substantial” investment will be used to help Letzz ramp up efforts on its AI-driven information hub and compliance streamlining platform
Compliance startup Letzz has secured “substantial funding” from former Kindred Group CEO Henrik Tjärnström in a significant milestone for the Malta-based firm.
Letzz was founded in 2023 by industry veterans Daniel Gambin and Predrag Spasojevic with the aim of simplifying and streamlining compliance costs and challenges via AI.
Gambin, who serves as CEO, previously spent more than nine years with Kindred across two spells between February 2013 and June 2017 and then between January 2019 and March 2024.
He departed the Swedish operator after serving as director of business performance and transformation, having risen up the ranks of the risk department.
Spasojevic serves as the startup’s chief technology officer having previously held the same role at MozzartBet between 2001 and 2009.
The regtech startup currently claims to reduce time spent on regulatory research by 90% using its AI workspace.
The firm’s product suite also includes automated regulatory news scanning alongside an “expert-validated compliance knowledge base”.
Letzz said its tools offer operators a “single, reliable source of truth for compliance management”.
“The platform’s transparency and auditability enables seamless collaboration across companies and advisers, fostering informed decision-making,” Letzz added.
The firm said the investment will be used to “realise its potential to revolutionise compliance in the igaming industry with its innovative, AI-driven workspace”.
The total funding received from the former Kindred boss was undisclosed by either party.
Tjärnström resigned as Kindred CEO with immediate effect in May 2023, having served as the Unibet parent company’s boss since July 2010.
During his tenure he oversaw a huge expansion of Kindred’s operations, including several M&A moves for 32Red, Stan James and Relax Gaming, as well as making inroads into the US.
Since his departure, Kindred has exited the US and was acquired by French operator La Française des Jeux in October 2024 for €2.5bn.
On the investment from Tjärnström, Gambin said: “Managing compliance in the igaming sector has become a significant burden, with costs in regulated markets rising faster than revenues over the past few years
“Our mission is to simplify this process without compromising on accuracy or security. We’re giving operators the tools to stay ahead of changes while saving time and resources.”
Tjärnström added: “Managing compliance effectively is one of the biggest and potentially costliest pain points in igaming today.
“Letzz is tackling this challenge head-on, developing a platform that’s secure, reliable and practical for operators.
“I’m proud to support a solution that addresses such a critical industry need.”