Nektan Accumulates £7.1 Million in Investments
18 May 2015
In the online gambling world, mobile has been the fastest-growing sector for several years in a row, and this is where all of the newest innovations are being made. Mobile software provider Nektan is one of the companies leading the charge in this particular arena, and they've built up a tremendous amount of momentum. This momentum has recently led to £7.1 million in financing from their latest round, and they have explicitly stated that these funds will be used to continue their growth.
A great deal with The Sun
One of the most important deals that they have made recently is with an agreement with The Sun in the United Kingdom. This agreement will have them offering a white-label solution through the end of 2015 where players can enjoy a wide range of mobile titles, and it's also one of the major sources of enthusiasm from their investors who have been more than happy to open their wallets for this brand. While this deal with The Sun is pretty big because of the name recognition that comes along with it, they've accomplished a lot more in several markets that many software providers haven't been able to penetrate to any meaningful level.
Widespread Expansion Continues
For example, Nektan has a minimum of 18 agreements in the United States in different markets. These agreements are mostly with tribal leaders, but a number of them are also in traditional commercial markets with licensed and regulated online and/or lottery-style gambling. Expansion in the US is key for their future because 2015 is looking to be the year that state-based online regulation of the industry blows wide open.
They've also continued to push in Europe, and this is especially the case with their Evolve software platform. A total of more than 30 white label operators have signed on with almost half of those coming in the first quarter of this year.
The Future of Nektan
Nektan is a company that produces B2B software solutions for online gambling, specifically in the mobile sector. Their growth has been centered around providing a high-quality product and being willing to work with newly-regulated and soon-to-be-regulated jurisdictions instead of trying to skirt the laws in different areas. This strategy is proving to be effective, and the millions they are getting in funding shows that their future continues to look strong.