ounded in 2015 by CEO David Chang, Betcade developed partnerships with industry operators, gaining approval from the UK Financial Conduct Authority last year. In December, it launched Betcade Pay, the first mobile payments solution built and optimized for gambling consumers.
Following a statement by Mr. Chang, it was reported that Betcade will cease operating by the end of January 2017.
“Start-ups seek to positively influence the industry which they are in however this comes with considerable risk as a business. After evaluating our options, it was determined that the best course of action for the company was to close the business in an orderly manner and look after our people the best we can,” CEO Chang reportedly said in a statement.