Dermot Desmond has upped his stake in online payments company Neovia to 29.8% from 28% previously to become its single biggest investor, the Sunday Tribune reports. The deal cost the Gibraltar-based tycoon around £823,000 – the London-listed public company was valued last week at €89m.

The company’s most recent results show losses before tax of €7.7m on revenues of €50m. In recent times, Neovia has branched into processing payments for online gaming companies, an area in which Desmond has significant experience.

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