ZenSports secures $1.46m in additional seed funding
Peer-to-peer betting exchange hopes to launch in US as investors continue to back crypto-first product
Crypto-first peer-to-peer betting exchange ZenSports has secured an additional $1.46m in seed funding.
The company plans to use the funding to expand into the US, improve its product offering and continue to grow its international presence.
ZenSports’ current main markets are Africa and Eastern Europe, with a focus on demographics with a high propensity to use cryptocurrencies.
The firm originally set out to raise $1m in May, but found the funding over-subscribed by 46% for this round. ZenSports had already secured $2.5m in funding as of March 2020.
Investors in the new funding round include previous investors LAUNCH and a series of new investment angels, as well as Cube Magic Gaming.
Mark Thomas, ZenSports CEO, said: “When you work on a big problem, good things tend to happen. Today, I’m thrilled to announce that we’ve closed a new $1.46m seed round of funding for ZenSports.
“Thanks to our amazing team for everything that they do each day – you make all of the hard work worth it,” he added.
Speaking to EGR in August, Thomas said he was confident the Nevada Gaming Control Board (NGCB) would approve its licence to launch in the state.