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Software development startup BetTech Gaming has announced that it has secured a multi-million rand seed funding packet from South African venture capital firm, 4Di Capital.
Founded in 2009, BetTech develops gaming software, the first of which is their sports book package which will be licensed through bet.co.za’s web and mobile interfaces.
When asked what persuaded 4Di to invest in BetTech, 4Di Director Justin Stanford cited the “marriage of a great idea with a capable team”, namely directors Jesse Hemson-Struthers and Mark Bosman.
“Jesse is already a very successful entrepreneur, with two successful online businesses to his name already, so that was definitely attractive to us. It was also the real scalability of the idea that excited us, particularly for BetTech to launch on mobile platforms, and potentially reach millions of users with a non-credit card reliant system.”
BetTech claims that their sports package will be a full package solution, enabling risk reporting and management, event management, marketing and white label and affiliate programme functions through a single interface. Most significantly, BetTech claims that their software will be scalable, without the need for plugins down the line.
Bosman says that besides the obvious benefits of the capital injection for software development and operational set up, the investment means that BetTech will be able to tap into 4Di’s significant partner network when introducing its products to global markets.