European private equity investor Perwyn has bought VIXIO Regulatory Intelligence.
VIXIO, a London-based FinTech that provides data and intelligence to the gambling payments industry, said in a Monday (Dec. 12) press release that the acquisition will support “the ambitious growth plans of VIXIO’s established management team.”
Perwyn has bought the company from its previous owner, Kester Capital, for an undisclosed sum, the release stated.
With clients that include payment processors like Mastercard and Worldpay, as well as gambling firms such as William Hill and Merkur, VIXIO’s solutions help businesses navigate the world of gambling legislation with data, analytics and reporting functionalities, according to its website.
As PYMNTS has reported, the gambling payments market is characterized by a focus on instant payouts, with those firms that are able to offer faster disbursements of winnings gaining a competitive edge.
In October, Trent Striplin, vice president of payments and fraud at Caesars Sportsbook, told PYMNTS that instant payouts are now a crucial part of the company’s overall customer experience, stating that “speed of withdrawals is something that’s very important to people in their experience with the Sportsbook.”
VIXIO ensures that firms can collect payment and offer the quick payouts their customers want, while still complying with anti-money laundering (AML) and consumer protection laws in place in different jurisdictions.
“We are delighted to be working with Perwyn at a pivotal time in our development.
“We are particularly impressed by [Perwyn’s] track record in partnering and supporting exceptional companies to achieve ambitious plans on a global scale and look forward to working with them on helping VIXIO fulfill its potential,” VIXIO’s CEO Mike Woolfrey said in the release.
Joining Woolfrey, Gurinder Sunner, partner at Perwyn, said: “We will be investing to enhance and increase the product offering and geographic coverage whilst maintaining and enhancing its leading reputation as the go-to provider for regulatory intelligence in both the payments and gambling market.”
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