Better Opinions, an event-based trading platform backed by Y Combinator, has raised $2.5 million in funding from investors that include Goldwater Capital and Metaplanet VC.
Y Combinator, Taurus VC, Original Capital, Tremis Capital, Super Capital, and other angel investors participated in the funding.
The company will use the funds to expand its product and technology team and for marketing and user growth.
“The funds will also be used to make Better Opinions a trading-cum-social platform. So far, we have seen an exciting user base that is eager to trade and invest in our platform,” said Samay Jain, co-founder and chief executive officer (CEO) of Better Opinions.
Better Opinions, a 2021-founded app, allows users to make predictions in various categories, including cricket, cryptocurrency, politics, and entertainment, with the potential to win real money if they are right.
Better Opinions states that since its launch, it has extended from continuous double auction transactions, where users can trade on “yes” or “no” poll results, or users can select from various choices to trade.
The company has expanded the platform to serve over 600,000 people and more than 14,000 events.
“Better Opinions developed and operated a real-cash prediction market, which is increasing the critical and accountable decision-making abilities and financial literacy of its user base,” said Rauno Miljand, managing partner, Metaplanet, an early-stage investing firm.
Better Opinions had raised over $1 million in funding from investors, including Soma Capital and Java Capital, in February of this year.
Additionally, it was a part of the Winter 2022 batch of Y Combinator, a global startup accelerator with Indian alumni that includes companies like Razorpay and Clear (formerly Cleartax).