Sportingbet Founder Joins Mfuse Board

Mfuse, which provides mobile-enabling technology, has revealed that it has raised £2.55 million at the close of its current funding round. The funding has came from existing investors Bestport Ventures LLP, who have invested a further £850,000 and new investors, including Mark Blandford, the founder of Sportingbet Plc, who has invested £1.55 million. Following the funding round, Blandford is joining the Mfuse Board as a Non-executive Director.
Mfuse was incorporated in 2002 to exploit the opportunities presented by the increase in mobile phones and the variety of activities they will be used for over the coming years. Specifically, the company’s aim is to enable businesses to deploy mobile transactional services across multiple devices and in multiple territories. Mfuse offers its clients a reliable and secure way to play, pay and transact using any mobile device. The company says its user-centred approach, combined with the latest robust, high performance technology, ensures a seamless, enhanced customer experience.
The new funding will provide working capital for Mfuse to expand both its product offering and its geographical reach. At present, Mfuse’s core offering is in the sports betting market, where it works with blue-chip clients such as Ladbrokes Plc, Sportingbet Plc, Bet365, Stan James and Paddy Power Plc. Part of the new capital has been allocated for further development and marketing of a mobile casino offering.
Mfuse says that Blandford’s appointment as a Non-executive Director will help strengthen the Board and provide the company with access to his significant knowledge of, and contact base in, the gaming industry. Blandford founded Sportingbet in 1997 after a successful career in traditional bricks and mortar bookmaking. In January 2001 the Company floated on London’s AIM market. Blandford was voted AIM entrepreneur of the year in 2002.He says:
“Mobile functionality is still in its infancy, and there is a very significant opportunity available to those with the technology and vision to facilitate the inevitable expansion of services and applications. Mfuse have the fundamentals in place and I look forward to working with their team in this crucial period of their corporate development.”