Codeta generates additional €600,000 in funding

Codeta has raised €600,000 ($739,900) through convertible loan financing in its latest funding round.

The operator and live table games specialist said it intends to use the additional funds to ramp up marketing activity and bankroll its VIP players.

This financing forms part of the firm’s third funding round, with Codeta having raised €4.3m in total since its launch in 2016.

Codeta said the latest round will be completed with a subsequent share issue later this year.

Codeta chairman Edward Ihre, added: “Codeta’s latest funding round will enable us to increase our marketing activity and to drive awareness of the brand among more players in regulated markets around the world.

“Following our re-design at the back end of last year, we have seen an increase in VIP players so we will also use the cash injection to bank-roll their wagering activity.

“We have big plans for 2018, which will include another, larger funding round later in the year as we look to cement Codeta’s position as undisputed leader in live casino.”

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