Frontrunner, a New York-based decentralized sports prediction market company, raised $4.75M in funding.
The round was led by Susquehanna Private Equity Investments LLP, Soma Capital, Gilgamesh Ventures, FBG Capital, Entrepreneurs Roundtable Accelerator, Toy Ventures, Gaingels, Ledger Prime, WAGMI Ventures, and NOA Capital.
The company intends to use the funds to scale its product and engineering team, streamline the product development, and licensing.
Led by Neil Zhang, Founder and CEO, Frontrunner is a decentralized sports prediction market platform where users can buy shares of sports propositions and trade them like they would stocks or options. Users can buy shares of their favorite teams and players across markets like NFL, NBA and Premier League, using crypto through a trading interface. They can then track their performance and changes in odds in fully transparent markets. The company plans to rollout ETF-style offerings providing users with the option to invest in their city teams, favorite ownership groups, league divisions, and more.
Frontrunner also plans to add new sports, and esports such as CS:GO, League of Legends and Dota 2, as well as new market types, such as the official baseball league MLB, early next year.
FinSMEs
14/12/2022