RakeTech hires Michael Holmberg as CEO
Current CEO Johan Svensson to take up new role focused on acquisitions after securing €70m in funding
Egaming affiliate marketing company RakeTech has appointed Gameday Group CEO, Michael Holmberg, as the company’s new chief executive.
Founder and current CEO, Johan Svensson, will instead take up a new role focused on securing acquisitions after raising €70m (£60m) in a new funding round.
The funding consists of a €40m committed loan facility, in addition to a €30m uncommitted loan facility from an as-yet unnamed investment fund, and will be used to drive additional growth through acquisitions.
The acquisitions will include small and medium-sized Europe-facing online casino and sports betting affiliates. The firm has already acquired 12 affiliate businesses over the past two years.
“This investment means we are well armed to further accelerate our acquisition and growth strategy,” Johan Svensson, founder and director of RakeTech Group, said.
“Appointing Michael Holmberg as CEO, and the person responsible for driving the company forward was a natural decision.
“Michael has a proven track record of building successful organisation within the online gaming industry and his leadership will help guide RakeTech to the next level.”