UK - Pi Capital completes £3m round for Million-2-1

Million-2-1 creates, develops and manages a range of ‘soft’ gambling games, such as lotteries or games of skill or auctions, which are played via SMS on mobile phones, the internet and television.

The company’s flagship game is How-Lo?, a reverse auction game where the lowest unique bid at the close of the auction wins. To date, Million-2-1 has run over 900 reverse auctions, the largest generating nearly 500,000 bids with the winner paying just £123.82 for the choice of a £125,000 Ferrari or £100,000 in cash.

Paul Thomas, managing director of Pi Capital, said: ‘Million-2-1 is one of the most dynamic companies in the mobile gambling sector and a truly pioneering company in the SMS based segment. Chris Sheffield is a successful entrepreneur who has a track record of delivering successful returns to private equity investors.’

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• Topics
• Expansion
• UK / Ireland