Low6 secures investors for 2021 growth plans
Low6, the mobile betting games and app developer, has secured a new £1.5 million funding round, rendering the firm’s 2021 IPO prospects stronger.
Recently, London AIM-listed technology fund Pires Investments Plc revealed that it had taken part in Low6’s latest share subscription, securing ‘6667 ordinary shares in Low 6 Limited at a price of £30 per share, for a total amount of £200,000’. The firm stated that it will be supporting Low6’s B2B business model as a high reward scheme for emerging sports betting markets and media platforms who are looking into diversifying their traditional portfolios.
Low6 develops apps and games enabling sports teams, franchises and media platforms to maximize their loyal following for partner services all while decreasing customer acquisition costs and reinforcing brand and customer loyalty. Up until now, Low6 has developed 36 custom games for leading sports organizations such as the UFC, PDC Darts and Scottish Premiership.
Low6 holds further high-coverage media partnerships with Sky Business and Yinzcam Inc, the leading North American app publisher.
Furthermore, Pires Investments mentioned in its transaction notice the Low6 ‘highly scalable partnership model’ as an attractive project which will be benefitting profitable US wagering and broadcast partnerships.
Peter Redmond, Chairman of Pires, stated:
We are pleased to be able to invest in Low6 at a key point in its development. We believe that Low6 has developed an exciting and innovative platform which is attractive both to sports clubs and their fan bases and, with the additional funding now being provided, they will be able to scale the business significantly.
Since its founding in 2017, Low6 has raised around £8 million and is planning to raise more funds via a pre-IPO funding round with a view to completing an IPO in H1 2021.