Property boss Nick Candy gambles on tech start-up – just WEEKS after his other company went bust
Nick Candy: The launch of Betconnect comes just weeks after Blippar collapsed
A betting company backed by Nick Candy has launched, just weeks after one of the property tycoon’s other technology start-ups went bust.
The colourful entrepreneur has invested an undisclosed amount in Betconnect, which has been set up with the promise of giving punters the chance to copy professional gamblers’ tips.
The company claims professional gamblers are often banned from mainstream bookmakers because of their success and will allow customers to follow them on the site. It is similar to so-called copy trading on websites such as eToro, where amateur traders can mimic investments made by professionals.
The launch of Betconnect comes just weeks after augmented reality start-up Blippar, Candy’s most high-profile tech investment, collapsed into administration. It has been reported that he may buy it out of administration.
Candy, who is married to pop star Holly Valance, is best known as a property tycoon, but has branched out in recent years into technology start-ups in the hope of backing the next big thing.
However, two of the companies he has invested in, Blippar and social media-cum-music streaming company Crowdmix, have gone bust.
The company said: ‘Candy Ventures has been working closely with the Betconnect team for over three years. It is one of a number of early stage investors.’
Former classmates Dan Schreiber and Mark Weaver came up for the idea for Betconnect in the pub.