Random State, a Swedish lottery technology company, has secured investment from the operator of the French national lottery and Germany’s biggest lottery firm.
ZEAL Network SE and FDJ United Ventures, the investment arm of France’s FDJ United, have jointly invested in the company, though neither firm has stated exactly how much.
The investment marks another instance of the duo investing outside of the borders of their respective founding nations, with FDJ United particularly active internationally.
Recent years have seen the company buy Swedish betting operator Kindred, owner of the Unibet sportsbook and 32red online casino, and Premier Lotteries Ireland (PLI), operator of the Irish national lottery.
ZEAL Network, meanwhile, is for the most part much more focused on its German operations, having established itself as the country’s leading provider of lottery services, and delivering successive quarterly revenue growth.
Regular growth and market leadership in its founding nation may have prompted the company to look for opportunities elsewhere, however, and Random State’s substantial global portfolio seems to have caught its attention.
“With Random State, we are investing into innovation in the iLottery sector,” says Juliane Gutsmiedl, Investment Manager at ZEAL Ventures.
“The team impresses with creative game design and a deep understanding of diverse user preferences – providing us with valuable impulses for the development of our own portfolio.”
A provider of iLottery and iBingo products, Random State is a partner of Canada’s Delta Bingo Online and the UAE Lottery, the first and only regulated lottery firm in the UAE’s burgeoning gaming sector.
ZEAL asserts that its and FDJ’s funding will enable Random State to expand sales, marketing and game development, while also giving the firm insights into new game formats, mechanics and commercial partnerships.
“Our vision is to reimagine the lottery – digital, user-centric, and globally connected,” said Mattias Westholm, CEO of Random State.
“With ZEAL Ventures and FDJ UNITED Ventures, we’ve found strong, strategically-minded partners who share this ambition. This investment allows us to accelerate our innovation pipeline and expand into new markets and customer segments.”