Match Poker has appointed investment banking firm Turnstone Securities as its financial and placement agent for a new capital raise.
Run by the International Federation of Poker (IFP), Match Poker is a variance of the game that is based on team competition rather than gambling, and played on mobile devices rather than cards.
Match Poker said that the funding round will be used to complete the development of its “highly scalable” software platform as it seeks to roll out in some of the world’s biggest markets in the coming years.
The organisation also wants to engage the poker community and national poker federations to gain worldwide acceptance as a recognised mind sport and e-sport.
“The attention we are receiving is growing all the time,” said IFP chairman Patrick Nally.
“Now we need to accelerate software development and complete the platform to launch on a global scale.
“We are aiming to be up and running in two or three European countries this year, but the boost to funding would be used to create the technology and infrastructure to roll out in the bigger markets such as China, the US, Russia and Brazil.”
The IFP believes that Match Poker's technology focus means it is of particular interest to young people and the burgeoning e-sports market.
Walt Robinson, managing partner of California-based Turnstone Securities, added: “We are thrilled to partner with Match Poker on this unique investment offering.
“We feel the company’s strategic goals will have wide-range appeal to qualified investors, not only from around the nation, but also the world.”
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