Technology company Lottery.com has received an investment commitment from Prosperity Investment Management worth $18m.
Prosperity plans to distribute the money through an investment vehicle provided by United Capital Investments Limited.
Prosperity Founder Warren Mecal commented, "I’m excited to have Prosperity be part of the resurgence of Lottery.com and the genesis of Sports.com. Our company has a unique understanding of the Motorsports sector.
“Our Motorsports ambassadors represent every major racing circuit, and we are excited at the opportunity to leverage them in support of the rollout of the Sports.com brand."
Lottery.com said it will use the funds to “accelerate the Company’s strategic acquisition plans and fund market development initiatives for both the Lottery.com and Sports.com brands.”
Company CEO Matthew McGahan described its partnership with Prosperity as ideal.
He elaborated further by saying, “Prosperity is an ideal funding partner for our company. They appreciate the value of Lottery.com and Sports.com and are investing both capital and strategic resources to benefit both our organizations' stakeholders.
“This investment from Prosperity strategically aligns with the Company's vision. It provides the necessary capital infusion to accelerate strategic growth plans, particularly in the rapidly evolving digital sports and gaming sectors.
The company said its goal is to focus on global expansion with its latest investment. McGahan took a moment to commend Prosperity for its achievements in the world of sports.
He concluded by saying, “Prosperity's expertise and network in high-profile sports arenas offer an unrivaled opportunity for brand exposure and consumer engagement. This partnership not only fortifies the Company's balance sheet but also positions us to leverage the global appeal of motorsport for market development and audience expansion.
“Lottery.com is poised to redefine the industry's landscape, bolstered by the synergistic partnership with Prosperity Investment Management, UCIL and the exciting new ventures under the Sports.com brand.”
