We advised the Malta-based gambling industry investment firm Level Up Entertainment on acquiring an undisclosed stake in the Estonian iGaming company Sisu Tech. The consideration was EUR 9 million.
The funding round, which successfully raised EUR 14 million for product development, was led by Level Up Entertainment, whose substantial investment of EUR 9 million strongly endorsed Sisu Group’s vision. The remaining EUR 5 million was contributed by the Sisu 100 network, whose members are from Scandinavia and Estonia. Sisu Group made a strategic decision to decline offers worth EUR 5.5 million.
First and foremost a technology company
Sisu Tech, based in Tallinn, was founded by the creators of Coolbet with a mission to create a next-generation iGaming platform that merges consumer-facing products with a cutting-edge technology platform. Specifically, Sisu Tech develops a 100 per cent cloud-based platform, enabling service providers to offer precisely the services their customers desire.
“We are first and foremost a technology company. We bring our brands to the market and offer a service directly to the end consumer, similar to Unibet and others. But we will also offer our technology and services to other gambling operators,” said Yannick André Svendsen, CFO and co-founder of Sisu Tech.
Our services and client team
We assisted the client at various transaction stages, including conducting legal due diligence (LDD), drafting transaction documents, and negotiating. The client team, led by counsel Mirell Prosa, included partners Toomas Prangli and Mihkel Miidla, senior associates Verner Silm, Olivia Kranich, Andra Grünberg, and Oliver Kuusk, and associates Kadri Puu and Vladislav Leiri.
