PropSwap, Inc., a Las Vegas based secondary marketplace to buy and sell sports bets, raised $2m in funding.
Backers included Fama Ventures, Chris Grove (partner at Eilers & Krejcik Gaming, and investor/advisor focused on the legal U.S. sports betting and online gambling industry), David Freedman (founder of Inc.’s fastest-growing company in 2019, Freestar), executives from each Airbnb and Instacart, executives in the private equity sector, and current investors.
The company intends to use the funds to launch the marketplace in newly legalized states, accelerate product development, increase user acquisition efforts, and continue to partner with gaming operators around the country, The company, which has now raised over $4m since inception.
Founded in 2015 by Luke Pergande and Ian Epstein, PropSwap is a peer-to-peer marketplace for active sports wagers. Customers who place a legal sports bet in the US are able to list their tickets for sale, at a price they determine, and PropSwap helps them find a buyer. Buyers on the platform find the best odds available, by purchasing directly from another individual.