ClearStake Secures GBP 1.5 Million to Expand Player Verification Technology

UK-based player verification and affordability platform ClearStake has completed a new funding round, raising GBP 1.5 million ($1.96 million), thanks to several prominent investors from the online gaming and fintech sectors. The extra capital will support the launch of the company’s new ID by Bank product, which enables gaming operators to check player identities directly through customers’ banking apps, making compliance faster and less intrusive.

ClearStake Seeks to Streamline Compliance

The new funding round unites an impressive roster of industry professionals. These include Flutter’s Paddy Power and PointsBet’s Sam Swannell. The investors primarily come from the fintech and gambling sectors, showcasing the growing interconnection between the two industries. With ClearStake positioning itself to grow its reach in the highly competitive UK market, the company’s innovative solutions will be put to the test.

According to ClearStake CEO Martin Burt, many of the investors have personally experienced regulatory friction challenges. Butt added that the new compliance solution will be seamless, compliant, and player-friendly, providing lasting value even to some of the world’s leading iGaming operators. Burt was convinced that an excellent customer experience was imperative for long-term growth.

The investors backing us have built some of the most successful businesses in iGaming and have experienced the challenges of regulatory friction.

Martin Burt, ClearStake CEO

ClearStake notes that the extra capital will help scale operations, deepen integrations with major operators, and enhance data analytics capabilities. The firm is confident that its banking-based verification tools will simplify compliance and play a significant role in retaining customers who might otherwise abandon the onboarding process due to complex affordability or identity checks.

The Company’s Products Primarily Target the UK

This new surge of investments follows the company’s earlier 2024 seven-figure funding round, which helped ClearStake secure partnerships with several leading UK operators, including Tombola, MrQ, and Ivy Casino. Multiple UK Gambling Commission audits have since used the company’s technology, with regulators reportedly viewing its approach as transparent and reliable.

A recent performance report by ClearStake revealed that clients using its Open Banking technology reported significant cost savings in compliance and a reduced onboarding time. This platform empowers clients to share authorized financial information instantly, replacing the traditional, manual submission of payslips or bank statements. Operators can thus meet the UKGC’s evolving standards without alienating legitimate players.

As ClearStake’s star-studded investor base continues to expand, the company is positioning itself as a leading force in the UK’s compliance technology scene. As the nation prepares for new gambling reforms, the ability to balance player protection with seamless and trustworthy customer experiences will prove invaluable in an increasingly unstable regulatory environment.