Betr Raises $35M in Series A Funding to Expand Microbetting Platform
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Betr, a Miami-based company that is developing a microbetting platform, today announced that it has raised $35 million in Series A funding. The round was led by Roger Ehrenberg, via IA Sports Ventures and Eberg Capital, and Fuel Venture Capital.
The company will use the funds to expand its platform and to grow its team. Betr’s platform allows users to place small bets on sporting events, such as the outcome of a single play or the number of points scored in a quarter. The company’s platform is designed to make microbetting more accessible and engaging for fans.
“We are excited to announce this funding round, which will allow us to accelerate our mission of making microbetting more accessible and engaging for fans,” said Luciano Arango, CEO and co-founder of Betr. “With this funding, we will be able to build our platform into a powerful tool for sports fans, and we will also be able to grow our team.”
The demand for microbetting is growing rapidly. According to a recent report by ResearchAndMarkets.com, the global microbetting market is expected to reach $10.8 billion by 2027. This growth is being driven by the increasing popularity of sports betting and the growing availability of mobile betting apps. Betr’s platform is well-positioned to capitalize on this growth, as it is designed to be easy to use and accessible on mobile devices.
“We are impressed by Betr’s platform and its potential to revolutionize the way that fans bet on sports,” said Roger Ehrenberg, Managing Director at IA Sports Ventures. “The company’s platform has the potential to make a significant impact on the sports betting industry, and it is well-positioned to capitalize on the growing demand for microbetting.”
This funding round is a significant validation of Betr’s platform and its potential to impact the sports betting industry. The company is well-positioned to capitalize on the growing demand for microbetting, and this funding will help it to accelerate its growth and reach.
About Betr
Betr is a Miami-based company that is developing a microbetting platform. The company’s platform allows users to place small bets on sporting events, such as the outcome of a single play or the number of points scored in a quarter. Betr’s platform is designed to make microbetting more accessible and engaging for fans. Betr was founded in 2021 by Luciano Arango, a former investment banker, and Luis Vazquez, a former software engineer.
About IA Sports Ventures
IA Sports Ventures is a venture capital firm that invests in early-stage sports technology companies. The firm has over $100 million in assets under management and has invested in over 20 companies, including Betr, Tipico, and SportsRadar. IA Sports Ventures was founded in 2019 and is headquartered in Miami, Florida.
Additional Information
- Betr’s platform is currently available in the United States.
- The company plans to expand its platform to other countries in the coming years.
- Betr is looking for partners to help it expand its reach. If you are interested in partnering with Betr, you can learn more on the company’s website.