Jesper Søgaard: “Responsible gambling is at the top of the agenda”

The Danish company has invested US$2.8m in an artificial intelligence based software solutions firm.

Denmark.- Affiliate marketing company Better Collective has increased its stake in Mindway AI, reaching 90 per cent ownership of the artificial intelligence (AI) and neuroscience-based software solutions firm.

The company acquired about 20 per cent of the AI firm for US$658,389 (€537,614) in 2019, and on January 1, 2021, it exercised its right to acquire a further 70 per cent of the business.

The Danish firm said in a release on Monday that it paid US$2.8m (€2.28m) for this tranche of shares.

The remaining 10 per cent of shares are held by Kim Mouridsen, Founder of Mindway AI.

Better Collective CEO, Jesper Søgaard (picture), said: “Responsible gambling remains a strategic focus area for Better Collective where we continue to increase our efforts.

“We see Mindway AI’s technologies and software solutions as best-in-class and foresee the business will play an increasingly important role in the iGaming ecosystem, as responsible gambling continues to be at the very top of the industry agenda and in society as a whole.”

The plans for Mindway AI

Mindway AI specialises in identifying, preventing and intervening in at-risk and problem gambling.

The CEO of Mindway AI, Rasmus Kjærgaard, will continue in his current position and Mindway AI will operate as a stand-alone company within the Better Collective Group, the company said.

Mindway AI provides is products and services to some of the industry’s biggest players, such as Entain (formerly GVC Holdings), Flutter Group and Holland Casino.

Last year, Better Collective also acquired Atemi Group.