UBet Raises $2.7M in Seed Funding


UBet, a Toronto, Canada-based decentralized sports prediction market, raised $2.7M in Seed funding.

The round was led by Shima Capital, GSR, Republic Crypto, LD Capital, Old Fashioned Research, Decimus, and M6, with participation from Daniel Hannigan-Daley and David Hong.

The company intends to use the funds to improve the customer experience for all parties within the global sports finance market.

Led by CEO Daniel Im, UBet is a decentralized peer-to-peer sports prediction market, which aims to eliminate the house and risk aversion that exists within existing sports prediction market products. Their system and architecture will allow all sports fans to trade their predictions, when they want, at market-implied odds without friction.