As we approach the new year, we’re inviting business leaders to reflect on the successes, challenges, and lessons of 2024 while sharing their vision for the year ahead.
Our new project ‘Navigating Success: 2024 in Review and What’s Ahead?’ spotlights companies across industries, offering insights into their milestones, strategies, and aspirations.
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We aim to provide a platform for businesses to share their journey, highlight their contributions, and reveal their plans for innovation and growth in 2025.
Today, we spotlight SOFTSWISS, an international technology company providing certified software solutions for the iGaming industry. With over 2,000 employees across Malta, Poland, and Georgia, SOFTSWISS stands at the forefront of innovation in the online gambling industry.
At the helm of this success is Ivan Montik, the visionary founder of SOFTSWISS. A passionate advocate for cryptocurrency, Ivan made history in 2013 by empowering SOFTSWISS to become the first company to integrate Bitcoin into online gambling operations. This bold move cemented the company’s reputation as a pioneer in the iGaming world.
In this interview, we delve into Ivan’s journey, his views on technology and innovation, and what’s next for SOFTSWISS.
2024 in Review:
- What were the most significant milestones your company reached in 2024?
This year marked a significant milestone for our company as we celebrated our 15th anniversary. While 15 years may make us seasoned players in our industry, we still ventured into uncharted territories, achieving several firsts for ourselves.
As a software supplier, our focus this year was on entering new markets – South Africa and Brazil – each with its own unique strategy. In South Africa, to accelerate our entry and operate efficiently, we acquired a majority stake in Turfsport, a leading South African provider of multichannel wagering software. Together, we successfully launched three new products.
In Brazil, we made bold moves, such as welcoming Formula 1 legend Rubens Barrichello as our Non-Executive Director for LatAm. I believe this milestone set the stage for many other memorable and inspiring moments throughout the year.
As I’ve mentioned, this year was also a year of groundbreaking moments. We co-invested in Livespins and, together with our partners, successfully sold the business to Evolution.
This was our first time selling an asset, marking an important milestone as we expanded our M&A activities. Learning not only to invest in and grow businesses but also to manage successful exits has been a crucial part of our journey.
- What was the most valuable lesson you learned as a leader in 2024?
The year 2024 was no simpler or less eventful than the previous 15 years of the company’s existence. We faced several challenges we had never encountered before, yet at the same time, we made significant progress.
As a leader, I believe it’s vital for employees to see that their leader not only talks the talk but also walks the walk. Since SOFTSWISS has grown from just three people to 2,000, I’ve always aimed to lead by example and demonstrate to the team how to navigate various situations.
Leadership, to me, is about taking ownership of responsibilities and ensuring tasks are completed. It’s not about shifting blame for failures but rather recognizing mistakes, learning from them, and striving for improvement in the future.
- How did your industry change in 2024, and how did these changes impact your business?
The key trend in 2024 has been the growing number of countries implementing restrictive regulations that hinder business rather than provide effective oversight. However, these challenges have also created new opportunities.
For instance, countries like Brazil are developing clear legislation, which makes it easier for international players to enter the market. This presents a valuable opportunity that we are actively pursuing by obtaining all the necessary certifications for our software.
At the same time, compliance requirements have become increasingly fragmented, with nations introducing diverse rules on taxation, advertising, and player protection. To navigate these complexities, companies must demonstrate agility and adapt effectively to localised demands.
We remain committed to making the industry more transparent, honest, and responsible. Our mission is to transform gambling into a trustworthy and enjoyable form of entertainment.
- What contribution did your company make to society or the environment this year?
Unfortunately, this year, both Brazil and several European countries, including Poland, experienced devastating floods that damaged entire regions and left people without homes or access to clean drinking water. For us, standing aside was not an option.
In Brazil, we launched an informational campaign aimed not only at providing immediate aid to those affected and long-term support for restoring the region but also at encouraging industry players to join the initiative. We were committed to supporting the people of Brazil during this challenging time by providing emergency financial assistance and partnering with organisations to swiftly deliver essential supplies such as food, clothing, and clean water. Furthermore, we developed a long-term initiative to install water purification equipment in schools in the affected regions.
In Poland, we also joined efforts to assist flood-affected regions. Our employees actively participated by assembling care packages with essential goods for those in need, while the company contributed financial support to bolster relief initiatives.
These aid efforts in Brazil and Poland are part of SOFTSWISS’ broader global strategy for social responsibility and sustainable development (ESG). The company places significant emphasis on long-term social and environmental projects. Among our most notable initiatives are participation in World Environment Day, Pink October, Movember, and other programs focused on environmental protection and community well-being.
What’s Ahead:
- What are your top strategic priorities for 2025?
The lessons and trends we identified in 2024 shape our top strategic priorities for 2025. Our focus is on expanding into new markets, diversifying our product portfolio, and enhancing the SOFTSWISS ecosystem. We aim to ensure that our clients receive exceptional service and access to cutting-edge innovations, empowering them to excel in the entertainment industry.
- How do you plan to innovate or expand your offerings in the coming year?
We aim to innovate by enhancing our existing products with advanced gamification features and introducing entirely new solutions tailored to the B2B segment.
- What new markets or opportunities will you explore in 2025?
As a software supplier, we have secured certification in Brazil, aligning with the new regulations coming into effect on 1 January 2025. This positions us to expand in Brazil and other Latin American markets. Additionally, South Africa remains a key focus area, alongside our ongoing growth efforts in Europe.
- How do you expect market trends to influence your industry in 2025, and what opportunities or risks do they present?
Major trends, including the shift towards localised regulation and the growing prevalence of M&A deals, are expected to continue shaping the industry’s landscape.
- How do you envision your company contributing to broader societal or environmental goals in 2025?
We already have several initiatives in place that we’ve been supporting for years, including World Environment Day, Pink October, and Movember, and we plan to expand these efforts in 2025.
Unexpectedly, at the end of 2024, we received an award from the Investor Relations Office of the Poznań City Hall for our corporate social responsibility efforts. This recognition not only affirms the impact of our initiatives but also motivates us to continue fostering social engagement and making meaningful contributions to both local and global causes.
