The favored, multi-award-winning iGaming enterprise based in Malta in 2018 by trade veterans Dan Andersson and Jörgen Nordlund Glitnor Group has introduced the launch of a brand new enterprise capital arm. Glitnor Enterprise is a recent division anticipated to assist the group flip into “essentially the most entrepreneurial and quickest rising enterprise group” a part of the trade, as defined by the corporate’s chief govt officer David Flynn.
Glitnor Group Will Leverage the Community of Divisions and Funding Areas
The group already hosts necessary names like completely happy On line casino, Swintt, and Fortunate On line casino amongst different reliable manufacturers. The newly created division was mandatory to assist Glitnor Group leverage its funding areas and community of divisions. Investments in high affiliate companies reminiscent of Time2Play and KaFe Rocks have been first on the checklist of curiosity for the newly based enterprise capital arm. The KaFe Rocks acquisition has been on Glitnor Group’s checklist for the reason that starting of the 12 months.
Nonetheless, earlier this week, Glitnor Group introduced the 2 events amicably referred to as off their acquisition plan. Each firms took their time and contemplated the choice correctly. In gentle of the present circumstances within the iGaming market triggered by the warfare in Ukraine and the aftermath of COVID-19, they agreed that “now just isn’t the time to totally full the acquisition”. On the identical time, KaFe Rocks and Time2play.com will maintain being managed by KaFe Rock’s founding members. Additionally, Glitnor Group will proceed to be an necessary shareholder in each firms whereas selling the identical “shut, skilled, and pleasant” relationship with KaFe Rocks.
The newly created Glitnor Ventures holds pursuits in RNGPlay, a sport growth studio in India.
Glitnor Ventures to Assist the Group Work with Modern Initiatives
Talking about Glitnor Enterprise, CEO Flynn defined the purpose for founding the brand new division is to “work with modern initiatives from pre-seed to seed and assist” throughout all the plethora of merchandise, providers, and know-how a part of the advanced iGaming trade. Flynn spoke about Glintorn Group as an “early-stage investor” keen to offer its experience and produce its assist from its networks available on the market.
The group which counts greater than 200 members situated in Bulgaria and Malta has managed to attain a +100% year-on-year development since its basis. The group’s enterprise can also be current within the European and North American markets. With the assistance of its confirmed observe file of making and rising highly effective manufacturers and harnessing tradition and high work environments, Glitnor hopes to grow to be a world chief and utterly change the face of lead technology, operators, and gaming studios.
