Online payment specialist for BetVictor, iGC, Nektan, VodooDreams, Ikibu, and more, Easy Payment Gateway (EPG), has bolstered its war chest after completing a £5.5m funding round.
The investment will be spread over two phases, with an initial £2m followed up by a further £3.5m once all KPIs are met.
Easy Payment Gateway claims it plans to use the cash to drive operational growth with new offices in Malta and Madrid, while also expanding its London base. Some of the investment will also be used to explore the viability of entering new markets such as Israel and South America.
The injection of capital has come from two renowned angel investors and entrepreneurs, Andreas Mihalovits and Alejandro Betancourt.
Mihalovits is already an investor in Easy Payment Gateway, and has significantly increased his shareholding with this latest funding round. Betancourt is a Venezuelan businessman with a wide spectrum of investments such as construction, energy, real estate, oil, banking, technology and most recently fashion, after investing in the sunglasses company Hawkers.
Jose Manuel Peral, Chief Operating Officer at Easy Payment Gateway, said: “We are thrilled to have raised £5.5m via our latest funding round, and to bring on a new investor in the form or Mr Betancourt. We will use the money to drive growth in the markets we are currently active, while also testing the waters for expanding our reach into Israel and the Middle East as we look to take the business to the next level”.
“I’d like to thank Mr Mihalovits and Mr Betancourt for their support and confidence in Easy Payment Gateway and our plans to become the go-to payment provider for the online gambling industry.”
Gonzalo Guzman, CFO at O’Hara Administration, said: “We at Ohara are very glad to be part of this project, which in our opinion will surpass all expectations. We are more than confident that the team behind EPG have both the experience and know how required to reach our goals and we will do our best efforts to make sure that the project follows its path like it is supposed to, and are confident that we alongside EPG, working as team can turn this startup into a case study about success”.
Andreas Mihalovits, said: “Knowing that Easy Payment Gateway is clearly the technology leader in its sector and being impressed by the superb growth rates, I obviously had to raise my stakes in this company and I’m really looking forward to support this great team on its way to market leadership!”
Easy Payment Gateway is an online portal with more than 220 different payment methods and worldwide acquirers.