One of the leading betting technology companies in Ireland, Banach Technology, raised a vast $2.55m funds for startups from investors.
Some of the investors that contributed towards the raising of these funds for startups included Cormac McCarty and Patrick Kennedy. Both the investors have served in corporate leadership positions at Paddy Powers. Patrick Kennedy is the former Chief Executive Officer for Paddy Powers, and Cormac McCarthy served in the area of Chief Financial Officer at Paddy Power.
Banach Technology was also backed by investors such as Stewart Kenny and David Power. Banach Technology is a company that provides gambling groups with products, pricing and customer experience systems and has worked with renowned brands such as GVC Holdings.
GVC holdings are the sole owner of BWin and Ladbrokes. Currently, the Chief Executive Officer for Banach Technology is one Mark Huges and has also worked for Paddy Powers serving in the position of Senior Quantitative Analyst and the Head of Quants. Also, the other co-corporate executives for Banach Technologies have a history with Paddy Powers including Rob Reck who is the Managing Director for Banach. Speaking to Sunday Times, the Managing Director for
Banach reported that the funding that they received from investors was by a large extend oversubscribed. Also, Rob Reck stated that Banach Technology was looking forward to hiring more than a dozen employees to work for the company. Banach Technology is to increase the number of their staff from 12 to 30 workers with the inclusion of hiring software engineers and quant mathematicians. Banach Technology is a startup that as attracted shareholders such as the owner for Red Tiger and also an entrepreneur in the field of gaming Nick Maughan.
Banach Technology is a firm that has based their operations in Dublin, and the structure of the corporate leadership is one with extensive expertise in the industry with a good number having worked for Paddy Powers. Banach Technology is a company that is bringing a revolution to the trade of betting. The technology developed by Banach will enhance customer engagement and also improve the operator margin across the board for all channels. It was reported that, the products being provided by Banach Technology are designed around the empowering of customers.
The users will be able to come up with a structured bet that is customized and will feature correlated multiples of the same game. Banach Technology was founded in the year 2015 by an executive team of mathematicians and technologists. The senior management team comprises Mark Hughes who is the CEO and is a Bsc holder in the field of economics and finance having studied at the University College of Dublin. Rob Reck is the Managing Director and holds an MBS in the area of Actuarial Science from the University College Dublin.
Furthermore, Rob Reck has a Bachelor’s in Maths and Mathematical Physics that he obtained from University College Dublin. Alex Zevenbergen is the Chief Technical Officer for Banach Technology, and he holds a BSc in Business and information systems from the University College Cork.
Adrien Lepretre is the Chief Operating Officer for the Dublin based organization and holds an MSc in Quantitative Finance from the University College of Dublin. Also, Adrien Lepretre holds a BSc in Economics that he obtained at HEC Lausanne. Banach Technology is headed for greater heights in the gambling industry, and the executives are focused on expanding their venture. The firm is now focused on bringing on board new and skilled employees with the vision of growing their wings.