BuddyBet, a London, UK-based social betting platform, raised $3m in funding.
The backers were not disclosed.
The company intends to use the capital to continue to develop its P2P betting platform.
Launched in August 2012 by Jarrod Epps, CEO, BuddyBet combines social networking with online betting to provide sports fans, gamers and social bettors with tools to challenge each other to P2P bets or make bets against groups of rival fans for cash, virtual money or forfeits. Users can bet on the BuddyBet website or via customized versions of the product on other websites and mobile games.