Irish tech firm Banach raises Euro 2.2 million in seed funding
News on 3 Jul 2018
News on 3 Jul 2018
Dublin-based betting technology firm Banach Technology Limited, founded in 2015, has raised Euro 2.2 million in enterprise seed funding which it will use to both expand product development and double its staff complement.
The company offers clients product, pricing and risk management streams of data in the sports gaming sector.
Banach Technology is led by Mark Hughes as CEO, who headed up quantitative analysis at Paddy Power, and Rob Reck as managing director who formerly served as a principal analyst also at Paddy Power. In addition, the team’s chief technology officer and chief operating officer Alex Zevenbergen and Hadrien Lepretre respectively, both served at Paddy Power as senior software engineer and chief data scientist.
Investors in the seed round, which was reportedly oversubscribed, included Paddy Power co-founders David Power and Stewart Kenny along with former executives Patrick Kennedy and Cormac McCarthy.
