ZEturf receives 9m capital boost
Private equity firm IDInvest has made another investment in the French egaming market, giving ZEturf a 9m capital injection.
French tote betting operator ZEturf has received a 9m capital injection from private equity firm IDInvest, formerly AGF Private Equity.
The investment represents IDInvest’s second significant investment in the French egaming market in recent months, its predecessor AGF investing 12m in French poker site Winamax in May.
ZEturf chief executive Emmanuel de Rohan Chabot, said: “The confidence of the IDInvest teams gives our development strategy a boost. This new financing will allow ZEturf to strengthen its marketing capabilities in order to continue the strong growth posted by the site each year.”
ZEturf obtained a licence from French egaming regulator Arjel in July to offer pari-mutuel horse race betting into the market. It has also signed a letter of intent with as-yet-unlicensed Unibet to pool horse racing liquidity.
Matthieu Baret, a partner at IdInvest Partners, added: “Opening up horserace betting in France to the competition is a fantastic opportunity for ZEturf, which has now reached a customer base and critical size allowing it to provide a mutual betting offer [an alternative to conventional actors], either directly or customer-branded, that is simple, credible and effective.”
ZEturf last year recorded a 45% year-on-year increase in amounts staked to 150m, and currently has more than 150,000 active users, according to a statement from the private operator.
For more on Emmanuel de Rohan Chabot’s plans for competing against Pari Mutuel Urbain, Europe’s largest pool betting company, see eGR’s analysis.