Tuesday, November 8, 2011 : CHANGE AT THE HELM FOR MOBILE GAMBLING TECHNOLOGY FIRM
Founder Marcus Wakeham has departed Mfuse
Mfuse founder Marcus Wakeham has joined the chief-executives-on-the-move industry trend, departing the mobile gambling technology company a month ago to open a London consultancy.
Mfuse's former CFO, Geoff Reid, has taken over Wakeham's responsibilities, although he says that his predecessor retains a minority stake in the company.
"I can confirm that Marcus remains a minority shareholder and that there are no changes in the shareholder structure of the company as a result of his resignation," Reid said this week in confirming Wakeham's resignation.
Reid has been with the company for the past four-and-a-half years, and says that business is continuing "very much as usual."
The client list at Mfuse includes major companies like Gala, Ladbrokes, Sportingbet, Sporting Index, Betsson, Betfred and Eurobet.
Using angel investment to get Mfuse operating in 2003, Wakeham subsequently raised GBP1.5 million in venture capital funding, with a second round of funding totalling GBP2.5 million in 2008 . The company has been building momentum substantially and in recent times introduced videostreaming to its offering.
According to Wakeham's Linked In profile, he became a "Mobile Specialist Independent Consultant" from November 2011, based in London, and defines his business as "Independent consultant bringing expertise to organisations looking to leverage the full potential of their mobile channel."