ParlayBay raises €3.5 million in latest fundraising round

Sports betting tile provider ParlayBay has secured a €3.5 million investment from a group of industry leaders as the company accelerates its growth plans in 2024.

With an aim to disrupt the sports betting industry, the additional funds will allow the company to deliver experiences to more players across the world via an improved product suite.

The company has enhanced its standing throughout key markets across the globe in the last year, agreeing partnerships with leading brands including Dafabet, M88 and most recently 96.com which will significantly elevate its footprint in Asia.

ParlayBay has created experiences for sports betting players with a range of in-play micro betting markets accessible in a metagame framework.

Fredrik Elmqvist, executive chairman at ParlayBay, said: “We are very pleased to have raised a significant amount in our latest funding round, particularly during such challenging economic times.

“Thousands of players are enjoying our products and the unique betting experiences they provide, which is the main reason why we have been able to secure this additional investment.

“As we make a concerted effort to expand our presence in Europe, this injection of funds will certainly help us ramp up our growth here and in other regions we are looking to expand into in the future.”