Business development expert Mark Chakravarti will be responsible for securing further investment as sportsbook eyes Bulgaria expansion
Fast-growing online sports betting brand, SportingWin, has strengthened its board of directors with the addition of business development veteran, Mark Chakravarti, who will drive efforts to raise further capital and secure a Bulgaria licence.
Chakravarti has more than ten years’ experience in setting up and developing new ventures, helping entrepreneurs scale up and turning around existing businesses into profitable ventures. His expertise spans the initial concept definition and pitch presentation to investors, through to quality delivery.
He has worked for a number of big-name organisations including Barchester Healthcare, Sunrise Senior Living, Bupa, Level39 (part of The Canary Wharf Group) and the Royal Academy of the Arts.
Under the role of Head of Investment and Board Director, Chakravarti will engage potential investors, pitch for capital and work with existing and new shareholders to shape the future of the business and deploy its ambitious growth plans.
In the near term, this includes securing a license in Bulgaria where the operator sees huge potential to build on the market share it has already secured in Malta jurisdictions. A recent Nielsen report valued SportingWin brand equity in Bulgaria at over €1m.
SportingWin is a Malta-licensed B2C betting start-up that is developing its own proprietary platform. SportingWin is the first Sporting Group brand to offer the Betfair exchange product, with plans to launch the brand in Bulgaria in 1Q21 and in doing so becoming the fifth licensed operator in the market.
Mark Chakravarti, Head of Investment and Board Director at SportingWin, said: “I am thrilled to join SportingWin at a hugely exciting time for the company and the brand as it looks to drive further growth and enter the Bulgarian market over the coming months.
“In order to do this successfully, the company requires investment and I look forward to playing a central role in helping to secure it. The role will allow me to use all of my skills and experience to engage investors, pitch for capital and work with shareholders to deliver our ambitious strategy.
“Our first goal is to secure a licence in Bulgaria with plans to launch in the first quarter of next year. We can already see that SportingBet has huge brand equity in the country, and look forward to monetising it over the coming months and years.”