Enhanced Cooperative, a Danish firm recognized for aiding individuals in navigating the realm of internet wagering, has obtained a new round of financing to sustain its ambitious expansion plan. The enterprise has secured a $41.3 million credit facility from Nordea Bank, supplementing an existing line of credit.
This financial infusion comes in addition to a separate $12.16 million loan from Danske Andelskassers Bank. With these agreements finalized, Enhanced Cooperative now possesses a reserve of $53.46 million readily deployable for upcoming acquisitions.
This isn’t the initial instance of Enhanced Cooperative collaborating with these financial institutions; they’ve maintained a working relationship with Nordea since 2017. The interest rates on these loans are linked to the banks’ standard rates.
Jesper Søgaard, the Chief Executive Officer and originator of Enhanced Cooperative, conveyed his enthusiasm regarding the company’s course. He emphasized their eight prosperous acquisitions in 2017 and two more already concluded in 2018, underscoring their swift consolidation as a prominent entity within the European online betting sector. Søgaard perceives this fresh funding as impetus to sustain their momentum and further expedite their established acquisition-centric growth approach.
