Lottery.com Completes £14M Funding Round

Lottery tech broker Lottery.com has received an investment commitment of $18.0 million (£14.2 million/€16.4 million) from financial organisation Prosperity Investment Management.

Lottery.com stated that the cash will be used to "accelerate" its strategic acquisition objectives. The Prosperity investment will also assist market expansion plans for both its Lottery.com and Sports.com brands, according to the company.

Lottery.com will be funded by Prosperity through an investment instrument offered by United Capital Investments Limited (UCIL).

Matthew McGahan, who took over as CEO of Lottery.com earlier this month, welcomed the increased funding. He praised Prosperity as the company's "ideal" finance partner.

“They appreciate the value of Lottery.com and Sports.com and are investing both capital and strategic resources to benefit both our organisations’ stakeholders,” McGahan said.

“Prosperity’s expertise and network in high-profile sports arenas offer an unrivalled opportunity for brand exposure and consumer engagement. 

“This partnership not only fortifies the company’s balance sheet but also positions us to leverage the global appeal of motorsport for market development and audience expansion.”