Prediction market app Better Opinions raises $2.5 million By CIOTechOutlook Team

Prediction market app Better Opinions raises $2.5 million

CIOTechOutlook Team | Monday, 25 July 2022, 08:48 IST

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A financial service startup called Better Opinions, supported by YCombinator, has raised $2.5 million (about Rs 20 crore) from a number of investors, including Metaplanet VC and Goldwater Capital. The round also included participation from YCombinator, Taurus VC, Original Capital, and other angel investors.

The company had previously raised over $1 million in a pre-seed round.

Better Opinions is an app that operates in the prediction market space and allows users to trade their opinions with real money on events in various categories like cricket, cryptocurrency, politics and entertainment. It claims to have over 600,000 users, covering more than 14,000 events.

"Prediction markets are a relatively new asset class where users can trade on future unknown events and earn money," said the company in a statement.

The company will use the fresh funds raised for building and expanding the product and tech team towards marketing and user growth. It also plans to build a social platform where users can trade and engage.

According to reports, Meta (formerly Facebook) is also planning to invest in the company.

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