ClearStake Raises GBP 1.5 Million to Enhance Player Verification Technology
ClearStake Secures Significant Funding to Advance Player Verification
ClearStake, a UK-based platform specializing in player verification and affordability, recently completed a funding round that raised GBP 1.5 million (approximately $1.96 million). This capital injection comes from notable investors across the online gaming and fintech industries. The funds will be primarily directed towards launching ClearStake’s latest solution, called ID by Bank, which allows gaming operators to verify player identities seamlessly through their banking applications, streamlining compliance while minimizing inconvenience.
Efforts to Simplify Compliance Processes
The recent investment brings together prominent figures from the gambling and fintech sectors, including representatives linked to major companies such as Flutter’s Paddy Power and PointsBet’s Sam Swannell. These investors’ involvement highlights the growing collaboration between gaming and financial technology industries. As ClearStake aims to broaden its presence in the competitive UK market, its innovative verification tools face the challenge of proving their value and effectiveness.
Martin Burt, CEO of ClearStake, has noted that the firm’s investors are familiar with the difficulties posed by regulatory hurdles. He emphasizes that the new compliance technology will provide a smooth, regulation-compliant, and user-friendly experience. According to Burt, ensuring an excellent customer journey is essential for sustainable growth and delivering long-term benefits to top iGaming operators.
Our investors have built some of the most successful ventures in iGaming and have firsthand experience with the barriers created by regulatory processes.
Martin Burt, ClearStake CEO
The company believes that the additional funds will boost operational capacity, strengthen integration with leading operators, and improve data analytics. ClearStake is confident that its banking-based identity verification will make compliance simpler and help retain customers who might otherwise quit onboarding due to complicated affordability or identity verification steps.
Focus on the UK Market and Industry Impact
This fresh funding round follows ClearStake’s earlier seven-figure investment secured in 2024, which facilitated partnerships with several top UK operators such as Tombola, MrQ, and Ivy Casino. The technology has since been adopted for multiple audits by the UK Gambling Commission, with regulators appreciating its transparent and dependable approach.
Recent reports from ClearStake indicate that clients using its Open Banking technology have seen notable savings in compliance-related costs alongside faster onboarding processes. This technology allows operators to instantly access authorized financial data, eliminating the need for manual documents like payslips or bank statements. As a result, operators can align with the UK Gambling Commission’s evolving regulatory standards without deterring genuine players.
With its increasing roster of influential investors, ClearStake is strengthening its position as a leading provider of compliance technologies in the UK. As the country anticipates upcoming gambling reforms, the ability to protect players while offering smooth and trustworthy user experiences will become ever more important in navigating the evolving regulatory landscape.
