Better Opinions Raises $1 Million In Pre-Seed Round
Funds will be utilized to expand product team, improve technology and grow its user base
Better Opinions, an event trading platform, has raised more than $1 million in a pre-Seed round from Y Combinator, Java Capital, Soma Capital and angel investors.
The platform allows users to trade their opinions on events in various categories such as cricket, football, finance, entertainment while matching them with a person with a complimentary trade. The funds will be used to build and expand the product, improve technology, grow the existing user base and educate the users about event trading.
With events trading emerging as a whole new asset class across the globe, Better Opinions is targeting INR 1 crore monthly GMV in Q2 and one million users in Q4," said a statement.
"Our aim is to make the app inclusive for all. The stock market unfortunately can be very technical and opaque. However, when we start allowing trading in categories such as cricket, politics and entertainment, not only do we make trading more relatable, but we also help improve their financial literacy. In the process, they also start experiencing the excitement of trading," Samay Jain, co-founder and CEO, BetterOpinions.
"We at Java Capital are very excited to invest in Better Opinions. As a VC, I make decisions on companies to invest/trade, a reflection of our opinion, knowledge and information at a point in time. Better Opinions is a product for everyone who has an opinion on any world event to trade and take a position on the same," said Vinod Shankar, co-founder and partner, Java Capital.
Founded in 2021, BetterOpinions is an app where events are created in the form of binary yes/no questions to make trading more relatable, accessible and widespread, added the statement.