ClearStake has raised £1.5m in its latest funding round, with several major industry figures pledging support to the supplier.

Among the investors are Bede Gaming and Conexus Group chair Michael Brady, Gaming Realms co-founder Simon Collins and of MrQ CEO Savvas Fellas.

In May, Brady was named as a board adviser to the supplier, focusing on the five-year-old firm’s scale-up operations.

Former Glitnor Group CEO David Flynn, PointsBet boss Sam Swanell, ex-GiG and High Roller head Ben Clemes and White Hat Gaming founder Max Wright also took part in the raise.

Paddy Power and Best Odds duo Will Armitage and Philipp Strizke were the other investors to back the firm in the latest funding round.

ClearStake said the capital raised would support the rollout of its new product, ID by Bank, designed to allow operators to verify player identities via their banking apps.

The firm said the product would enable operators to boost first-time deposits while cutting out fraud and manual reviews.

Martin Burt, ClearStake CEO, said: “This raise is a strong signal that our mission matters more than ever.

“The investors backing us have built some of the most successful businesses in igaming and have experienced first-hand the challenges of regulatory friction.

“Their support validates our approach: making all verification seamless, compliant and player-friendly.

“With products like ID by Bank and our affordability and source-of-funds solutions, we’re proving that exceptional customer experience around verification and compliance can actually drive growth, not kill it.”

The latest funding round follows a previous seven-figure raise for ClearStake in February 2024, allowing the supplier to scale, with High Roller CEO Seth Young and Stats Perform co-founder Oliver Slipper taking part.

Since then, the supplier has partnered with UK-facing tombola, MrQ and Ivy Casino, as well as supporting multiple Gambling Commission audits.

The post MrQ CEO and industry execs back ClearStake in £1.5m funding round first appeared on EGR Intel.