Event trading startup Better Opinions has raised over $1 million in its pre-seed round from Y Combinator, Java Capital, Soma Capital, and angels such as Mayank Kumar, Co-founder, UpGrad, Sudhanshu Raheja, Head of Product and Engineering, GoTo Financials (Gojek-Tokopedia), Pratyush Prasanna, SVP, Gojek, Chinmaya Sharma, Chief Commercial Officer Namshi and the Ranadive Family, the co-owners of Sacramento Kings.
Founded in 2021 by Samay Jain and Soumyajit Das, Event trading startup Better Opinions allow users to trade their opinion on an outcome of event.
“Our aim is to make the app inclusive for all. The stock market unfortunately can be very technical and opaque and therefore isn’t always accessible for all. However, when we start allowing trading in categories such as cricket, politics and entertainment, not only do we make trading more relatable, but we also help improve their financial literacy,” Samay Jain, co-founder and CEO, Better Opinions. “In the process, they also start experiencing the excitement of trading.”
The company said that funds will be used to build and expand the product and tech team, grow the existing user base and educate the users about events trading.
“As a VC, I make decisions on companies to invest or trade, a reflection of our opinion, knowledge and information at a point in time. Better Opinions – is a product for everyone who has an opinion on any world event to trade and take a position on the same,” said Vinod Shankar, co-founder and Partner, Java Capital.
The company launched its Real Money Gaming App in December last year and within a month of its launch claimed to have seen 150K sign ups with a week on week (WoW) growth of 30%.