Megalotto secures six-figure cash boost from Vereeni Investments

Malta-based lottery start-up Megalotto has secured a six-figure investment from venture capital fund Vereeni Investments.

Vereeni Investments, which is owned by Coingaming Group CEO Tim Heath, was founded in 2017 and has previously invested in start-ups including Green Jade Games and Nostragamus.

Megalotto – built on the Gaming Innovation Group (GiG) Core platform – was this week awarded its licence from the Malta Gaming Authority (MGA) and launched across multiple markets.

Grant Williams, CEO of Megalotto, said: “We are delighted to be receiving a significant investment from Vereeni Investments, and to be able to tap directly into their vast gaming knowledge and wide-reaching network.

“We are in regular contact with the Vereeni team, and together are forming an exciting plan for how we are going to be a disruptive force within the online lottery sector.”

Tim Heath, founder and CEO of Vereeni Investments, added: “Megalotto’s customer-centric attitude is what really stands out to us as Vereeni shares those important values.

“In addition to providing an attractive interface, they want to take the customer on a journey, moving away from more traditional, transactional lottery products. We hope this relationship will be the start of many exciting projects together.”