RAKETECH RAISES €70 MILLION TO FUND ACQUISITIONS
Award winning affiliate company secures substantial funding and re-organizes management structure to drive further growth
Leading affiliate company, RakeTech Group, has secured €70 million in funding to help drive acquisitions and strengthen its position as one of the fastest growing gaming affiliate companies in the world. The funding consists of a €40 million committed loan facility, plus a €30 million uncommitted loan facility from a major investment fund.
The investment will be used to acquire small to medium sized online casino- and sports-betting affiliates that complements the company’s structure, primarily within the European market. The funding will contribute to continuing the company’s remarkable growth, which over the past 24 months has involved the acquisition of 12 online affiliate companies.
RakeTech are at the same time making changes to its management structure. Michael Holmberg, who is currently CEO for holding company Gameday Group, has been appointed as CEO of RakeTech. Holmberg will focus on the day-to-day management of the organization and will be responsible for delivering on a robust business strategy.
Current CEO and Founder of RakeTech, Johan Svensson, will assume a new role with a focus on securing acquisitions required for continued growth in the capacity as Founder and Director.
Johan Svensson, Founder and Director of RakeTech Group, said: “I’m really excited about this new chapter in our history. This investment means we are well armed to further accelerate our acquisition and growth strategy. Appointing Michael
Holmberg as CEO, and the person responsible for driving the company forward was a natural decision. Michael has a proven track record of building successful organizations within the online gaming industry and his leadership will help guide RakeTech to the next level.”
About RakeTech Group
RakeTech Group is one of the leading online gaming affiliate companies in Europe. The Malta based company was launched in 2010 and now operates more than 1,500 affiliate sites across Sweden, Finland, Norway, United Kingdom and Spain, offering excellent conversion rates for more than 150 business partners.
The award winning company was named ‘Affiliate of the Year’ at the 2017 EGR Nordic Awards and ‘Casino Affiliate of the Year’ at the 2016 Global EGR Awards. The group operates some of Europe´s most successful online gaming affiliate sites, such as flagship outlets Casinoguide.se and Nyacasinon.com as well as leading Swedish sports betting website Betting.se.