Avanti Studios Appoints Former Klarna Executive Jonas Ericson as CFO

The live casino landscape is witnessing a significant shift in leadership as Avanti Studios welcomes Jonas Ericson as its new Chief Financial Officer. Ericson’s move from the established fintech world to an ambitious gaming start-up highlights the increasing intersection between high-level finance and the gambling industry. With his extensive background at Klarna, Ericson is well-positioned to guide Avanti Studios through the complexities of global scaling and financial management.

Avanti Studios is not a typical software provider. By integrating motion capture technology with real-time cloud-based streaming, the company aims to redefine how players interact with live dealers. The addition of a seasoned finance professional like Ericson suggests that the company is preparing for a rigorous expansion that requires both technical innovation and solid financial foundations. This hire is the second major addition to the C-suite in just a few weeks, following the appointment of Steven Tabone as Commercial Director last month.

Numbers and facts

Jonas Ericson spent six-and-a-half years at the international payments company and bank Klarna. During his tenure, he progressed from Financial Transformation Lead to Global Head of Finance. His responsibilities included supporting Klarna’s entry into new international markets and overseeing the strategic development of accounting competencies. At Avanti Studios, his remit will cover financial strategy, risk management, and ensuring the business remains compliant during its next phase of growth.

“Making the switch from an established company like Klarna to an exciting start-up is always a big decision, but when I spoke to Gustaf (Hagman) and Jonas (Delin), I was completely sold on their vision. No one in the live casino space is even attempting the ideas that Avanti Studios has already implemented.” - Jonas Ericson, CFO at Avanti Studios

Gustaf Hagman, Co-Founder of Avanti Studios, noted that Ericson’s wealth of experience in new product implementation and senior management makes him the ideal fit to build the brand going forward. The focus on profitability and global impact is clear as the company positions itself against established giants in the live gaming sector.

Background

The technological edge of Avanti Studios lies in its use of motion capture, a technique more common in movie production and AAA video games than in traditional gambling. By combining this with cloud streaming, they aim to offer a lag-free, high-fidelity experience that can be delivered to any device. Such innovations require significant capital and strategic oversight, which explains the recruitment of a CFO with a deep understanding of fintech operations and international scaling.

The leadership team, now including Ericson and Tabone, is tasked with navigating the diverse regulatory landscapes of Europe and beyond. While the live casino sector is highly competitive, the focus on unique technological solutions could provide the differentiation needed to capture market share from incumbents.

Why it matters for German players

For players in Germany, the professionalization of providers like Avanti Studios is a positive development. Although the German market, regulated by the GlüStV 2021, currently has strict limitations on live casino games, the entry of leaders with fintech backgrounds ensures a higher standard of corporate governance. German players are protected by the GGL (Joint Gambling Authority of the States), which mandates strict deposit limits of 1,000 euros per month and a centralized monitoring system called LUGAS.

If the German states eventually decide to issue more licenses for live casino games to private providers, having suppliers that understand international compliance and financial transparency will be crucial. A CFO coming from a regulated bank like Klarna understands the importance of anti-money laundering (AML) protocols and secure payment processing, which are cornerstones of the German regulatory framework. This could eventually lead to safer and more innovative gaming options for the local audience under the watchful eye of the GGL.

What it means for GGL-licensed casinos

Operators holding a GGL license require reliable and compliant partners. The appointment of Jonas Ericson signals that Avanti Studios is serious about its financial integrity and long-term viability. For German operators, working with suppliers that have a strong C-level team reduces operational risks. As the market evolves, the integration of high-end technology like motion capture must be balanced with the strict player protection rules of the GlüStV 2021. The expertise Ericson brings from Klarna regarding financial products and international markets will likely translate into better-integrated payment and reporting systems within the gaming software.