FansUnite sells Betting Hero to founders and GeoComply for $37.5m
As reported by iGB Affiliate, GeoComply, the compliance solution provider, will take a 40% stake in FansUnite US. Betting Hero co-founders Jai Maw and Jeremy Jakary will control operations with a 60% stake.
Betting Hero was established in 2018 by Maw and Jakary. It is active in over 20 North American igaming states.
“Jai and Jeremy have built a tremendous business with a laser-like vision to support their customers’ mission for the best possible user experience through the sign-up process,” said Anna Sainsbury, GeoComply CEO.
“At GeoComply we share that vision. We are delighted, through this intended investment, to help Betting Hero further their efforts. We will deploy more resources and focus into serving our customers and their patrons throughout North America.”
FansUnite previously sold its asset BetPrep to Stram Entertainment. This is part of a partnership between the two companies in February 2023. As part of that agreement, FansUnite is being paid a 30% revenue share. This runs for 36 months from the September 2023 closure date.
The company also sold Scottish-focused sportbook and online casino McBookie to an arm’s length third-party in May 2023. This saw it divest the asset it bought for $1.6m two years prior.
The FansUnite sale to GeoComply and Betting Hero co-founders is due to close in August.