Smarkets, a London, UK-based social provider of a platform to bet on sport, TV shows and politics, raised $2.3m in funding.
The company intends to use the funding to expanding its team of developers and engineers in order to accelerate technical and product development.
Founded in 2008 by Jason Trost (CEO) and Hunter Morris (CTO), Smarkets provides a prediction market website that allows users to bet on events against other members instead of a bookie. The company takes a 2% cut on winning bets.
In conjunction with the funding, Randeep Wilkhu, Senior Investment Manager at T-Venture, and Robert Dighero, partner at Passion Capital, will join Smarkets’s board.