iGaming and sports betting solutions supplier FSB continues consolidating its market position just in time for the Qatar 2022 FIFA World Cup. The company bolstered its presence in the African market with Nairabet and successfully concluded several other high-profile partnerships. FSB also expanded its management team with several seasoned industry veterans, who will aid in its reorganization efforts.
FSB Focuses on Global Growth
The partnership with Nairabet marks another milestone for FSB as it grants the B2B technology improved access to the rapidly growing African market at a critical time. Nairabet is Nigeria’s first regulated online bookmaker and enjoys a sizable market presence. The cooperation will hopefully lay the groundwork for future expansion in the region.
An injection of £23 million ($27.4 million) in working capital from private equity firm Clairvest Group significantly boosted FSB’s rapid growth. The investment company was pleased to observe significant progress over 2022 and expressed confidence in FSB’s success.
“We… very much look forward to continuing to work with the (FSB) management team to scale the business.”
Mohit Kansal, managing director at Clairvest
Outside Africa, FSB continued to consolidate its European presence thanks to the recent strategic deals with gaming operator Olympic Entertainment Group and Abelson Info, a sports data and odds supplier. The timing of these partnerships is crucial, as FSB seeks to secure the largest possible market share in preparation for the World Cup. To that end, the B2B developer launched its newest Companion App. It aims to boost partner performance and drive up player engagement.
Two New Hires Will Assist with Scaling Efforts
Due to its growing global presence, FSB had to reinforce its leadership team. Adam Smith and Ian Gray join the company’s management roster. They will help the company capitalize on its improved market reach.
Smith has substantial experience with high-profile manufacturing and IT service companies, where he assisted with the technical aspects of their business scaling efforts. He will ensure that FSB can properly leverage its partnerships and continue delivering industry-leading solutions on time and within budget.
Ian Gray will initially head FSB’s HR department as the company completes its transformation into a B2B-exclusive technology service provider. The company’s rapid expansion has undoubtedly created many new challenges. However, Gray reaffirmed his dedication to the FSB team and noted that the company was in a superb position to secure global success.
2022 has so far proven to be a truly transformative year for FSB. The company won EGR’s Multi-Channel Supplier of the Year award, consistently made headlines with new partnerships, and is in a prime position to become a market leader. The newly expanded management team has done its best to ensure that the company is in the best place possible and now needs to maintain that momentum heading into 2023.