The high-risk payment processor CashtoCode is operated by the Berlin-based Funanga Group and its subsidiaries in different jurisdiction. The website www.chashtocode.com is operated by the UK-registered Funanga Ltd. CashToCode offers an instant deposit service for online betting, skill, and lottery operators and claims to have 160.000 retail partners to deposit cash. The Curacao-licensed online casino operator Dama is one of the merchants that offers CashToCode as a payment option. Here is our review.
Key Data
| Trading names | CashToCode Funanga |
| Business activity | High-risk payment processor |
| Domains | www.cashtocode.com |
| Legal entities | Funanga AG, Funanga Ltd, Funanga Australia Pty Ltd |
| Jurisdictions | Germany, United Kingdom, Australia |
| Related indivifuals | Jens Bader (LinkedIn) Seth Iorio |
| Regulation | No |
| PayRate42 rating | Green (CashToCode profile) |
Short Narrative
The idea is simple. The user selects CashtoCode as a payment method on the website in question – online casinos, sports betting, lotteries, etc. Then a barcode is generated on the payment page. With this barcode (printed or on the cell phone) the user deposits the amount at one of the 160,000 partners (a store locator shows one the nearest pay points) and the amount is immediately available on the website. During the deposit, the pay point operator have to veryify the identity of the depositor.
We have tested CashToCode in connection with the online casino Lucky Dreams, one of the Dama casino sites. The payment process is simple and intuitive. The problem, however, was that none of the 160,000 pay points were close to us. We therefore had to make a longer trip. However, the cash deposit at the cash point worked fine and our Lucky Dreams account was topped up. Maximum per payment process are by the way €400.
CyberRating agency PayRate42 has given CashtoCode a Green Compliance Rating.
The Funanga Group
According to the information on the website, Funanga AG, registered in Germany, was founded in 2013. The legal entities un Uk and Australia were founded in 2017 and 2021. The group’s CEO is registered Jens Bader, who is also the co-founder of TBWS Limited, a Malta-based fintech specializing in financial software. His partner is German Seth Iorio who has an online gaming background.
Share Information
If you have any information about CashToCode or Funanga Group, please share it with us through our whistleblower system Whistle42.
