Better Opinions, a Y-Combinator backed company, has raised $2.5 million Seed fund from investors including Metaplanet VC. The funding round also participated YCombinator, Taurus VC, Original Capital, Tremis Capital, Super Capital and other investors. The fund raised will be used to build and expand the product and tech team, towards marketing and user growth.
Company handout
"Some of our investors' portfolio companies include The Boring Company, TikTok, Reddit and Binance. It is heartwarming to see such investors having faith and belief in our product and team. The funding will also help with our tech and infrastructure scale up plans," said Soumyajit Das, co-founder and CTO, Better Opinions.
Better Opinions had previously raised an amount of $700,000 in their pre-Seed round from investors including Soma Capital and Java Capital. Within a span of 6 months, Better Opinions has had over 600,000 users and has covered over 14,000 events, claimed by the company in a statement.
"The funds will also be used to make Better Opinions a trading cum social platform. We have so far seen an excited user base, who are eager to trade and invest in our platform, and their demand for more events and categories is a testament to the potential of our product. Our vision from here is therefore not only to create a stock market of opinions and make trading accessible to all, but to build a social platform where our users can trade and engage," said Samay Jain, co-founder and CEO, Better Opinions.
Better Opinions is an app that operates in the realm of the prediction market and allows users to trade their opinions with real money on events in various categories such as cricket, cryptocurrency, politics and entertainment. Prediction markets are a relatively new asset class where users can trade on future unknown events and earn money.
"Better Opinions, developed and operated real cash prediction market, is contributing greatly to increase critical and accountable decision-making abilities and financial literacy of their user base," said Rauno Miljand, managing partner, Metaplanet.