igamingnext photo
RegTech specialist Kinectify has announced an undisclosed new investment from Aristocrat, as well as a new board member to provide “strategic benefits” to the business.

Former Aristocrat chief supply officer Jason Walbridge (pictured) will join Kinectify’s board as the Australian gaming provider’s representative.

The AML and compliance gaming software provider said his appointment will “enhance the strategic benefits” between the two businesses.

Other investors have joined the round to contribute additional capital. These include Acies Investments, the Eastern Band of the Cherokee Indians (EBCI), Eilers & Krejcik Gaming and former Caesars CEO Mark Frissora.

Since 2022, Walbridge has held an advisory role with Aristocrat centred on the firm’s Anaxi real money gaming business.

Prior to this, he held a number of iGaming roles, including spending 18 years in various executive positions within Aristocrat.

“I am thrilled to work with Kinectify to pioneer innovation in risk management across the gaming ecosystem,” said Walbridge.

“I’ve been impressed by Kinectify’s track record so far with its AML and responsible gaming technology, and I’m excited to facilitate deeper collaboration between our companies.”

The rise of RegTech

Interest in RegTech and compliance start-ups has risen in recent years as regulated markets impose increasing AML and safer gambling burdens on gaming businesses.

Some providers in this space have become large players in their own right. Examples include GeoComply, which has cornered the US gaming geolocation checks industry.

Kinectify’s new investment follows on from its August 2022 preferred seed round.

“We are excited to partner with such seasoned strategic investors from inside gaming including suppliers and operators with deep expertise like OpenBet, Acies Investments, and EBCI,” said Kinectify CEO Joseph Martin at the time.

“This investment will accelerate our mission to provide an all-in-one solution for gaming risk management,” he added.

The company aimed to use the money to fund a new compliance offering, on top of its existing AML suite of products.

Similar posts