PlayUp, which is already licensed in New Jersey and Colorado, has completed a $25m capital raise through a non-renounceable entitlement offer.
The funds, raised from a broad investor profile from Australia and internationally, will assist the operator as it pursues betting licences and market entries across the US.
Chief executive Daniel Simic said PlayUp is in an increasingly strong position in North America following the new investment and appointment of PlayUp USA chief executive Laila Mintas.
Simic said: “The oversubscription of our $25m raise reflects the enormous potential of PlayUp. It is an endorsement of our team, our technology and our vision.
“This raise allows us to build on an already established footprint. We have access in two states of America, we have a veteran CEO with enormous experience and we have plans in place to make significant progress in the rapidly growing US market.”