Codeta gets SEK 22M in a second round for an online live casino solution.

Codeta, a Stockholm, Sweden-operated and St. Julian’s, Malta-located company providing an online live casino solution, announced raising SEK 22M ($2.5M). The money comes from Trention, with a contribution a bit higher than $1M, and from existing shareholders, including Mats Gabrielsson.

Codeta was founded in 2015 and started operating live casinos in 2016, being led by executive chairman Edward Ihre. The company is mostly active in the Nordic countries, the UK and Germany, but the presence is also found in several other countries. The company is licensed in Malta, the UK and Curacao.

The money will be used to get to positive cash flow and expand to further European markets, as live casino is the segment in the casino that is expected to grow rapidly next year. Prior to this round, Codeta raised its SEK 20M ($2.4M) in seed money from 30 investors in 2016.