Online sportsbook and gaming operator Mobius Interactive has announced a private placement of 5 million shares at a price of CA$0.40 (£0.23/€0.27/$0.32) per share, in order to raise funds of CA$2m.
The operator said a significant portion of the funds will be used for marketing campaigns to grow the brand in three key markets; India, Brazil and Mexico.
Headquartered in Vancouver, Canada, Mobius is currently operating in various markets throughout Europe and Scandinavia, where it offers online sportsbook, casino and esports options.
The company said its team has proven success in those markets and is preparing for a “media blitz” as well as mobile and social media campaigns, combined with a large number of partnerships in the iGaming affiliate market.
Mobius said it was also currently in discussions with a licensed land-based casino operator in Mexico, in order to form a partnership that would allow it to launch its products into the Mexican market.
“Mobius Interactive is confident that our commitment to product innovation and customer excellence will serve as a solid foundation for success in existing and new markets,” said Lynn Pearce, the operator’s chief executive.
Seamus Byrne, VP of business development for Mobius, added: ”The iGaming market is perfectly positioned for tremendous growth this year and is already outperforming other markets.
“The opportunity to get into a market that potentially offers higher returns on your investment is right now, and Mobius offers real growth value in this sector.”