Smarkets, a London UK-based provider of a betting exchange and prediction market platform, raised an undisclosed Series B funding.
The round was led by Susquehanna Growth Equity (SGE), , which joined existing investors Passion Capital and Deutsche Telekom.
The company intends to use the funds to accelerate its rollout in the US, where it is already live in Colorado with sportsbook app SBK and set to go live in Indiana soon, bolster SBK’s position in the UK mainstream betting market after its launch in August 2019, and expand its reach in European countries.
Led by Jason Trost, founder and CEO, Smarkets Smarkets operates two main products – the Smarkets exchange, a betting exchange and prediction market platform, and SBK, a sportsbook app that delivers odds by drawing prices from the exchange and presenting them in a sleek, sportsbook interface.
The company has offices in London, Los Angeles, and Malta, licensed customer-focused operations in five countries, and in 2019 released innovative sportsbook app SBK.