The UK Gambling Commission (UKGC) has awarded a “remote casino host and gambling software” licence to BeyondPlay. This will enable the company to go live in the UK jurisdiction with the first suite of signed operators that include ComeOn, Soft2Bet and LeoVegas Group.
The company already has a B2B critical supply licence from the Malta Gaming Authority (MGA). The acquisition of the UK licence is an important milestone for the B2B start-up company.
This stamp of approval marks a momentous occasion, as BeyondPlay will introduce new and thrilling gaming experiences, offering unparalleled entertainment value and community play for real-money gaming operators in Great Britain. Our multiplayer product boasts an array of features that exceed standard responsible gaming requirements. These features include low-stake and community-pooled betting, spectator mode and time-outs, which ensure that players can enjoy the product in a secure and enjoyable environment. We are extremely grateful to the team at Harris Hagan and our investors for their advice, cooperation and support throughout what has been a detailed and thorough qualification process, especially given the evolving nature of the product and investment structure of the business.” Karolina Pelc, Founder and CEO – BeyondPlay
BeyondPlay has been at the forefront of developing gaming technology since it was founded by Karolina Pelc two years ago. Speaking with SiGMA News about Beyond Play’s corporate story, Founder and CEO Karolina Pelc said that BeyondPlay found its niche in developing next-generation engagement software for online operators. Through its collaboration with leading slots studios like Big Time Gaming, No Limit City, Hacksaw or Kalamba, the company added a variety of social features to existing slots content, including stakes pooling and wins sharing. She explained how BeyondPlay which was two years old recently has added a robust jackpot engine to its portfolio of community-oriented products under development, transforming solo game sessions into captivating multiplayer entertainment experiences.
In April 2021, BeyondPay raised a total of €1.7 million in funding over a single Seed round. Pelc describes how it is not easy to raise money, particularly for a licensed business in the gaming industry. She believes that it takes a specialised investor to fully grasp the potential of innovation because many forms of financing, such as crowdsourcing and various grants, are unavailable. There are many challenges with requests for regulatory information and strict due diligence processes which many find overwhelming. Pelc says that good resources are needed to prepare all the necessary documentation. However for BeyondPlay, it turned out to be a great experience with a positive outcome. She adds “We ended up with a list of backers and we managed to secure an oversubscribed round, despite the challenging conditions, which is something I am immensely proud of and a great statement of how far we can go forward with BeyondPlay”.
The company’s team today has grown to over 30 professionals and has found its niche developing next-generation engagement software for online operators, which, through its collaboration with leading slots studios like Big Time Gaming, No Limit City, Hacksaw or Kalamba, adds a variety of social features to existing slots content, including stakes pooling and wins sharing.
Investment from industry players
BeyondPlay’s corporate story so far has seen the company gain investment from established industry players.
LeoVentures, the venture arm of LeoVegas, notably known for its strategic investment in companies with a global potential invested in BeyondPlay by buying a 25 percent stake in the start-up. Recently LeoVegas was acquired by MGM resorts and it sold its share in BeyondPlay to Bettor Capital, an early-stage venture capital firmed based in New Jersey that focuses on the real-money, online gaming industry and is lead by Managing Partner David van Egmond. This deal gained LeoVegas a 73 percent return on the original investment it made in BeyondPlay. At that time, LeoVegas CEO Gustaf Hagman said that BeyondPlay had grown ‘from an idea to a leader in its industry niche” indicating that there was more to come in relation to the company’s future within the international iGaming sector.
Partner at gambling law firm Haris Hagan, Bahar Alaeddini represented BeyondPlay through the UK application licence process. “We are very pleased to have navigated BeyondPlay through its licence application and to have played a part in the company’s journey to obtaining a UK licence,” he said, adding that Karolina and her team were fantastic and “worked diligently, passionately and relentlessly, and always with good humour, throughout the process. We are thrilled for them and excited to watch BeyondPlay grow and see the opportunities that lay ahead.”
BeyondPlay will move ahead with licence applications in Ontario, Sweden and the US.
SiGMA News spoke with Karolina Pelc, Founder and CEO of BeyondPlay, an innovative online gaming multiplayer focused start-up.
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