Yolo Investments has completed an equity investment in igaming retention and reactivation firm Enteractive, which amounts to several million euros for a non-controlling interest equity stake.
Founded by entrepreneur Tim Heath, the Venture capital firm has stated that the purpose of the funding is to further boost Enteractive’s ‘pace and capability’ to scale globally.
Tim Heath, GP of Yolo Investments, commented: “We love businesses which find creative ways to add value for their partners, and that’s why Enteractive is such a natural fit for the Yolo Investments network.
“Retention and reactivation are challenges facing many of the companies we’ve already invested in, and we see significant opportunities to build synergies and help Enteractive develop into a global industry leader across many more markets.”
Furthermore, the firm has stated that it aims to ‘leverage its expertise and network to supercharge the development of high growth companies’.
Mikael Hansson, Founder and CEO of Enteractive, added: “We’re super excited about Yolo Investments joining the Enteractive family. Tim and his team have done a great job in challenging conventional thinking and pushing the industry forward with new ideas and a good portion of enthusiasm.
“We believe that we can further accelerate our already strong growth with their added knowledge and strong network.”
Late last year, the group undertook a major restructuring of its operations and appointed Christine Lewis as the CEO of its B2B Bombay Group, One Touch and Hub88 subsidiaries. Lewis, who formerly served at NetEnt and was previously the Chief Commercial Officer at Pariplay, will carry out the role of CEO of Bombay Group.
Her responsibilities now include heading up mobile-focused games studio OneTouch, live casino product Bombay Club and the Hub88 content aggregator platform.