The Better Collective Group has acquired 90% of the shares of Mindway AI. The latter company specialises in software solutions that uses artificial intelligence and neuroscience to help identify and prevent problem gambling.
After initially acquiring 19.99% of the company in 2019, Better Collective have now acquired a further 70% of shares for a price of 17 million DKK (approx £2.05 million). The remaining 10% of shares are held by Kim Mouridsen, the founder of Mindway AI.
Despite this new ownership, Mindway AI will still continue to operate as an individual company within the wider Better Collective Group. Current CEO Rasmus Kjærgaard has been instrumental in building the commercial aspect of the business and pushing its current growth.
Better Collective’s CEO, Jesper Søgaard, 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.”
Kjærgaard said: “I am excited that Mindway AI now joins the Better Collective Group, an organisation that shares our purpose and values and has a genuine wish to create a safe and sustainable betting and gambling environment for players worldwide. With this investment, we now form closer ties to an organisation that has the industry network and muscles to further accelerate the development of our business.