Synkt Games, a Miami-based provider of a mobile fantasy sports app, raised a convertible debt round.
New World Angels (NWA) participated in the funding.
Led by Bryan Abboud, CEO, Synkt Games is a Miami based mobile app publisher. Through its letsRUMBL™ mobile app available in Apple’s iTunes store, the company offers a fantasy sports experience that simplifies the drafting process, lowering the cost of playing, allowing head to head competition among friends and maintaining smaller pool prizes.
New World Angels Completes Investment in Synkt Games
Funds Enable Miami Start-up to Compete in Daily Fantasy Sports Market
MIAMI, FL – AUGUST 29, 2016
New World Angels (NWA), Florida’s premier structured angel investor group, announced today an investment in Miami-based Synkt Games’ convertible debt round. Through its letsRUMBL™ mobile app available in Apple’s iTunes store, Synkt Games offers an easy to use fantasy sports experience with better odds of winning for the casual player in the high-growth, daily fantasy sports category.
Synkt Games has identified the largest problem with the major daily fantasy sports contests: professional players dominate and win nearly all of the prize money. By simplifying the drafting process, lowering the cost of playing, allowing head to head competition among friends and maintaining attractive yet smaller pool prizes, letsRUMBL™ provides the casual fantasy player with a better mobile experience.
“New World Angels is delighted to join an impressive list of investors in Synkt Games,” stated Steve O’Hara, NWA President. “Several of our members had previously invested in Synkt Games because of their experience with Synkt’s CEO Bryan Abboud. Not only has Bryan had previous entrepreneurial success, but he has also worked with many of us at New World Angels as a valued member and director. When Bryan approached New World Angels to join his investment group for the upcoming football season, it was one of our easiest decisions,” O’Hara added.
“I am thrilled that a group of sophisticated investors like New World Angels would offer this expression of trust and confidence in Synkt Games and our letsRUMBL™ product,” Bryan Abboud noted. “We are excited for the start of the football season, the most popular time of year for fantasy sports, and are confident players will love our new version of letsRUMBL™.”
About New World Angels:
New World Angels (NWA) is a group of 63 accredited, private investors, operators and entrepreneurs dedicated to providing equity capital to early-stage entrepreneurial companies with a strong presence in Florida. Members of NWA have extensive experience in founding, building, and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from West Palm Beach to Miami on Florida’s east coast and from Naples to Tampa on Florida’s west coast. Since 2014, NWA has invested $7.4MM in growing US and international companies that are either based in Florida or have a strong presence in the state. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate a company’s growth.
About Synkt Games:
Synkt Games is a Miami based mobile app publisher. Our team is comprised of serial entrepreneurs who have extensive experience founding, building and operating innovative, successful companies. Our game, letsRUMBL™, is a daily fantasy sports experience for iOS device users that allows casual players to compete and win every day.