ClearStake Bags Seven-Figure Funding Round

London-based financial services firm with a focus on open banking systems, ClearStake, has secured a seven-figure sum from its latest funding round. 

This means the 2020-founded company that lets players share data in whatever way works for them can start working toward more growth in the future, with special emphasis on scaling its global business within the gambling industry.

Ready to Reach More Operators

Speaking about the exciting news, the company’s chief executive officer, Martin Burt, expressed delight about securing “additional funding” for their journey, which is expected to help them deliver their solution to an even larger number of gambling operators.

“We are lucky to have an investor group consisting of prominent industry experts,” Burt added, referring to the likes of current and former senior executives at Paddy Power, Flutter, EML Payments, PointsBet, and Stats Perform.

The CEO called them pros who acknowledge the potential of their technology at an international level and who also agree with their “vision of solving the challenge of requesting financial data from players.”

Boosting the Number of Players Who Opt-In 

The company that provides real-time risk profiling software and tools is determined to bring its innovative solutions to even more clients and help them shorten the time needed to process new players. 

At the moment, the company’s banking tool can significantly cut the amount of potential new customers who decide to give up the procedure when required to reveal their financial information and send it for approval.

This is a very common issue in the gambling world that a lot of operators are dealing with, especially in the context of the continuous debate carried out in the industry regarding affordability checks.

ClearStake also works by allowing customers to retain more high-value customers whilst meeting all of the necessary regulatory requirements and significantly saving on costly affordability and anti-money laundering checks.

In a report from September 2023, the company showcased excellent results that reiterated the effectiveness and perks of using their Open Banking technology with special emphasis on the way it can streamline affordability processes while saving money for operators. 

Then, Burt, who is also ClearStake’s founder, also said they were looking forward to witnessing “a further boost” in their statistics as their customers continue to deepen integration.

Last July, Hollywoodbets announced it had chosen ClearStake to help it enhance the protection of its players while making sure that no compromising revenue streams would interfere with its business.