ZEAL invests $2m in US funding platform Omaze
Lottery operator buys 2.5% stake in American charity business offering life-changing celebrity experiences
ZEAL Network has made a significant investment in US online sweepstakes platform Omaze.
The lottery operator’s investment arm, ZEAL Investments, agreed a deal worth $2m for a 2.5% stake in the business along with a board observership.
Omaze gives customers the chance to win once-in-a-lifetime experiences and exclusive merchandise by paying a $10 entry into a sweepstake.
Eighty percent of those entry fees go to charity, with the firm retaining the other 20%.
James Oakes, who was recently made corporate development officer at ZEAL, said: “We’re always looking out for pioneering start-ups that can engage young users and the millennial market.
“The Omaze platform, which unites charity and once-in-a-lifetime experiences, provides just that.
“The lottery industry can learn a lot from companies like Omaze that reject traditionalism and embrace possibilities.
“They dismantled the three pillars of chance, reward, and pay-to-play to create something dynamic and new.”
Oakes has said in the past that Zeal Investments is looking to invest in lottery-style businesses that don’t need regulating.
This is ZEAL’s second foray into charity lotteries in recent months after the firm’s Lottovate brand launched a charity jackpot initiative in partnership with UNICEF Norway last November.