Better Collective secures financing for further expansion
Better Collective, the leading developer of digital platforms for betting tips, bookmaker information and iGaming communities, signs loan agreement with Nordea of DKK 225 million bringing bank credit facilities to total DKK 300 million to fuel the continued M&A strategy.
In 2017, Better Collective partnered with Nordea and SEB to establish the optimal financial structure. As part of this, The Company has now signed bank credit facilities with Nordea Bank (DKK 225 million) and with Danske Andelskassers Bank (DKK 75 million). The credit facilities are established at normal bank interest rates. Of the total financing, DKK 200 million is a 3 yr bullet loan and DKK 75 million that are repayable in tranches before end 2019, whereas DKK 25 million is an overdraft facility for daily operations. Jesper Søgaard, Founder & CEO of Better Collective: “With eight successful acquisitions in 2017 and the first two secured in 2018, we are rapidly strengthening our position on the top of the European iGaming affiliate market. To have this financing in place now means that we can keep the pace and make room for accelerating Better Collectives successful acquisition growth.” Since being founded in 2004, Better Collective has been able to fund all of its activity without any external financing. However, external bank financing has contributed in smaller scale since 2017, when the M&A strategy became an integral part of their business. With the size of the consolidated new facilities, the growth path can be continued. About Better Collective Better Collective’s vision is to empower iGamers through transparency and technology—this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes more than 2,000+ websites and products. This includes bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory, and SmartBets, the odds comparison platform made personal.