ZenSports, a San Francisco, CA-based mobile peer-to-peer sports betting marketplace where anyone can create and accept sports bets, closed another $675K in additional seed funding.
The funding, which was part of a broader, rolling close of a $1M+ round that began in February 2019, was led by Jor Law, Co-Founder of VerifyInvestor.com, which was acquired by tZERO in 2018, with participation from several angel investors, including Jason Calacanis’ LAUNCH accelerator.
Additional investors in the round include Baldini’s Sports Book & Casino and Movoto Co-Founder, Henry Shao.
The new funding will be used for marketing and growth of the company’s P2P sports betting app.
ZenSports is a decentralized marketplace for sports betting, which enables bettors to create their own bets with their own odds and terms, or accept bets that others in the marketplace have created.
The company has also created its own cryptocurrency utility token called SPORTS, which customers can use for placing bets, earning discounted betting fees, and getting cash back, bonuses, and other rewards.
Since launching, ZenSports has processed over $1.5M in bets and has cleared several regulatory hurdles in order to begin scaling both internationally and in the United States.
It is available for download in both the App Store and Play Store.