BLANDFORD MOVES AGAIN

21 March 2008

Sportingbet founder invests in mobile gambling company


Look out for some significant expansion from UK mobile gambling technology company Mfuse - substantial sums of cash have been invested by leading online gambling industry personalities, topping up the company coffers.

Sportingbet founder Mark Blandford, who recently took an unsuccessful £6 million run at Parlay Entertainment through his PCI Acquisitions firm, has emerged as a significant investor in Mfuse following a company announcement that it was raising funds. Blandford is understood to have invested £1.55 million,with other and unidentified investors pumping in a further £2.55 million, and the original Mfuse investors Bestport Ventures putting up another £850 000.

Blandford will become a non-executive director at the firm.
The new funding is earmarked to provide working capital to help expansion of both product and geographic reach. Mfuse presently numbers several leading companies among its mobile gambling clientele, including Paddy Power, Ladbrokes and Stan James.

“I think it is an exciting company," said Blandford. "There have obviously been some false starts in the mobile space, but I think the technology is there now.”

Marcus Wareham, chief executive at Mfuse, said it is “....time to scale up the business in order to cater for the inevitable increase in mobile phone activity”.

Online Casino News courtesy of InfoPowa