Betable Raises $18.5m For Real-Money Mobile Gambling Platform

UK-based real-money gambling platform Betable is reported to have raised $18.5 million (€13.7 million) in its latest round of funding, led by early stage venture capital firm Venture51.

The Wall Street Journal newspaper said that Betable’s chief executive officer, Christopher Griffin, had revealed that previous backers Greylock Partner and Founder Fund had also made investments.

The latest round of funding now brings the firm’s total financing to $23 million.

Betable, which opted to move into real-money gambling last year, offers a service that allows regular social game developer to add an element of real-money gambling to their games.

The firm handles the processing, legality and compliance of real-money gambling regardless of what the geographical location of a gamer might bet.

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