Xpoint, a geolocation and compliance technology company that specializes in the US sports betting and iGaming markets, on Tuesday revealed an investment partnership with Bettor Capital, an early-stage venture firm focused on real-money, online gaming opportunities.
Xpoint said it expects its geolocation platform will launch live with its first partner in early 2022.
Bettor Capital said in a statement its investment in Xpoint comes ahead of that launch, with the intention of supporting Xpoint’s goal to bring “innovative, partner-focused solutions to the established geo-compliance marketplace.”
The two companies said the funding will play a key role in the accelerated expansion of Xpoint throughout the US, building on the late-2021 announcement of Xpoint’s first major US sports betting partnership, with sports betting exchange Sporttrade.
“I am delighted to welcome Bettor Capital to the Xpoint team and want to thank them for sharing our vision,” Marvin Sanderson, CEO and co-founder of Xpoint, said in a statement. “I am thrilled that Bettor Capital has seized the opportunity to invest in us at such an exciting time in our development. 2022 is going to be an incredible year for Xpoint as we look ahead to the full launch of our geolocation platform, and a raft of partner announcements, starting early in Q1. Bettor Capital’s investment will serve to accelerate our growth as we aim to transform a marketplace that we know is ready for innovative thinking and partner-focused solutions.”
Dave VanEgmond, founder and partner at Bettor Capital, added: “Xpoint offers a mission-critical, highly valuable solution that will benefit from the ongoing, strong, end market tailwinds in the online gaming space today. We could not be more excited about working with Marvin and the Xpoint team to help drive continued growth, scale, and momentum across the North American online gaming end market.”
