Former FoxBet CEO joins BetConnect amid series A funding drive

Online betting industry veteran Robin Chhabra has been appointed as a strategic business advisor to betting exchange platform BetConnect. In his new role as an adviser, the former FoxBet CEO has been tasked with scaling the business through strategic agreements and potentially through M&A activity. Chhabra previously led strategy and corporate development at William Hill for seven years before a three-year tenure as chief development corporate officer for The Stars Group. The appointment comes as part of a pre-series A funding round, financing which has secured backing from a number of high-profile industry figures, including Chhabra. Backers include Waterhouse VC chief investment officer Tom Waterhouse, Grand Parade founder Andy Clerkson, and Yolo Group founder Tim Heath. BetConnect has revealed financing generated will be used to “accelerate” its growth both in the UK and internationally over the next 12 months, in the areas of product and technology. Chhabra currently also serves as executive chairman of Austin-based PR and communications agency Red Knot, a business started by his ex-FoxBet colleague Andy Clerkson. Discussing his new appointment as an adviser to BetConnect, Chhabra cited the firm’s “genuinely innovative” betting product. “Dan and his team offer a transformative vision and a super-agile platform which, combined with their ability to execute, sets BetConnect up for international expansion,” Chhabra explained. “For me, this investment constitutes an exciting strategic play in a company that has already laid the firm foundations to strike once exchange regulations do clearly coalesce across US states,” he added. Started primarily as a social betting business, BetConnect aims to allow punters to place bets with multiple bookmakers through a single API. Since its inception the firm’s customer base has risen to more than 20,000. Addressing his own involvement with BetConnect, Tom Waterhouse said: “The Waterhouse VC Fund endeavours to generate capital growth by holding long-term strategic investments in companies that can reinvigorate tired thinking and disrupt the norm. “The BetConnect model improves the experience for international customers, and can be flexibly adapted to accommodate blockchain assets and the inherent crypto benefits of better margins, lower transaction costs and faster withdrawals,” he added. These sentiments were echoed by Yolo Group founder Tim Heath, who cited the BetConnect business as one which “absolutely fits the bill” for Yolo Investment funding. “The platform is already performing strongly in the UK, and with the backing of some of the biggest names in the industry, BetConnect is ready to take the next step,” Heath said. “We plan to work closely with the BetConnect team, leveraging the Yolo Investments network, to help them along the way,” he added.