Total amount raised
$33.7 Millions
Latest funding date
06/01/2021
Location
Smarkets has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a unique betting exchange with competitive odds and low commissions.
Keep reading to explore the intricacies of Smarkets' fundraising journey and the investors backing this innovative platform.
What Is Smarkets?
Smarkets, founded in 2008, is a leading betting exchange platform based in London. The company was established by Jason Trost and Hunter Morris.
Specializing in sports and political betting, Smarkets offers users competitive odds and low commissions. The platform is known for its user-friendly interface and innovative approach to betting.
With a team of over 100 employees, Smarkets continues to grow and expand its market presence. The company is licensed and regulated by the Gambling Commission in Great Britain and the Malta Gaming Authority.
How Much Funding Has Smarkets Raised?
- Amount Raised: $1 million Date: Not specified Lead Investors: Passion Capital Valuation at Round: Not publicly disclosed Motivation Behind the Round: Not specified
- Amount Raised: $2.3 million Date: February 21, 2013 Lead Investors: Deutsche Telekom's T-Venture, Passion Capital Valuation at Round: Not publicly disclosed Motivation Behind the Round: To accelerate technical and product development, hire more engineering and developer staff, and deliver a roadmap that includes new markets, a mobile app, and trading charts.
Total Amount Raised: $3.3 million
Current Valuation: Not publicly disclosed
Key Investors
- Deutsche Telekom's T-Venture
- Details: T-Venture is the venture capital arm of Deutsche Telekom, one of the world's leading integrated telecommunications companies. They focus on investing in innovative technology startups.
- Investment Focus Areas: Technology, telecommunications, digital services
- Notable Investments: Not publicly disclosed
- Passion Capital
- Details: Passion Capital is a London-based venture capital firm that invests in early-stage technology startups. They have a hands-on approach to supporting their portfolio companies.
- Investment Focus Areas: Fintech, software, digital media
- Notable Investments: Monzo, GoCardless, Tide
- Susquehanna Growth Equity
- Details: Susquehanna Growth Equity is a private equity and venture capital firm that focuses on growth-stage technology companies. They are part of the Susquehanna International Group.
- Investment Focus Areas: Software, financial technology, healthcare IT
- Notable Investments: Credit Karma, Payoneer, iCIMS
- Deutsche Bank
- Details: Deutsche Bank is a leading global investment bank with a strong presence in Europe and significant operations in the Americas and Asia Pacific. They provide a wide range of financial services.
- Investment Focus Areas: Financial services, technology, real estate
- Notable Investments: Not publicly disclosed
- Index Ventures
- Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They have offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Technology, life sciences, consumer products
- Notable Investments: Dropbox, Slack, Revolut
What's Next for Smarkets?
Smarkets is poised to capitalize on the growing interest in peer-to-peer betting platforms. With plans to expand into new markets and develop a dedicated mobile app, the company is well-positioned to attract a broader user base. The betting industry, currently handling £30 million in transactions per month, offers significant growth potential for Smarkets.
Future fundraising opportunities seem promising, given the strategic involvement of investors like Deutsche Telekom's T-Venture and Passion Capital. These investors' support could pave the way for additional rounds of funding, enabling Smarkets to scale its operations and enhance its technology.
However, Smarkets will face challenges such as competing with established players like Betfair and ensuring regulatory compliance across various markets. Maintaining and scaling their technology to handle increasing transaction volumes will also be crucial for sustained growth.
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