Tim Heath’s VC fund invests six figures in Swedish live-bet stimulation firm

Tim Heath’s venture capital fund Vereeni Investments has made a six-figure investment in Swedish start-up, Flax Innovations, which aims to stimulate live betting through score notifications.

The deal will see Vereeni take “significant equity” in Flax Innovations, whose main product is betting stimulation tool Triggy.

Triggy offers a white label app that sends relevant notifications around scoring events. Players can then click through to be shown relevant bets, with only one more click to actually place the bet.

Triggy is currently live with LeoVegas through an app called LeoAlerts, as well as Sportsbet.io – run by Heath’s Coingaming Group – with an app called SB Live.

Tim Heath, founder and owner of Vereeni Investments, said: “One of the biggest challenges facing the online betting industry is finding new ways to genuinely engage our customers. Flax Innovations’ have shown a unique approach to this problem with its Triggy product.

“We are excited to use the Vereeni Investments network to provide Triggy with the audience it deserves, while also investing in the Flax Innovations team to create new, disruptive sports betting products that can help drive our sector forward.”

Flax Innovations AB is a Stockholm based firm, founded in 2017 by Björn Nilsson, Daniel Svenson and Stefan Thunberg.

Nilsson added: “We are thrilled to receive this investment from Vereeni. While the money will help take our business to the next level, becoming a part of the Vereeni network will also have huge benefits when it comes to creating and delivering products that change the face of sports betting.”

Vereeni last year made a seven-figure investment into start-up slots development studio Kalamba Games.