Vereeni acquires 20 percent stake in Singular

Venture capital fund Vereeni Investments has acquired a 20 percent stake in igaming firm Singular for an initial consideration of Euro 5 million and the option to increase its stake based on performance in 13 months time.

Dubbed a “major investment deal”, the deal forms part of Vereeni’s recently launched Euro 100 million technology fund ‘Level Up’ which targets promising early stage ventures.

“The partnership has the potential to further expand Singular’s presence, not only geographically , but also in new industry directions,” Darko Gacov, chairman of the board of directors at Singular said.

“As a result of this partnership we are already looking at three major new clients in different regions that will be powered by Singular’s technology”.

Timothy John Heath, founding partner at Vereeni Investments, said: “Their approach to continual business development and commitment to being innovators within their field makes them a perfect fit for our diverse investment ecosystem.”

Singular has offices in London, Valetta, Tbilisi, Skopje and is planning two new locations in San Francisco and Kiev.