Better Opinions raises USD 2.5 mn from Metaplanet VC, other investors

Better Opinions, a YCombinator-backed company, has raised USD 2.5 million (about Rs 20 crore) from a clutch of investors including Metaplanet VC and Goldwater Capital.

Participants in the ‘seed round’ of funding include YCombinator, Taurus VC, Original Capital, Tremis Capital, Super Capital, and other investors, including angel investors. Better Opinions is a trading platform which allows users to trade their opinions and earn money. “Better Opinions…has raised USD 2.5 million from investors including Metaplanet VC and Goldwater Capital,” a statement said.

Also read: 5G spectrum auction to start on Tuesday; Reliance Jio, Bharti Airtel among 4 cos in fray

The company has over 6,00,000 users who have traded Rs 10 crore plus on the platform. Better Opinions had previously raised USD 700,000 in a pre-seed round from investors including Soma Capital and Java Capital. Better Opinions is an app that operates in the space of the prediction market and allows users to trade their opinions with real money on events in various categories such as cricket, cryptocurrency, politics and entertainment.

“Prediction markets are a relatively new asset class where users can trade on future unknown events and earn money,” the statement said. Better Opinions has expanded from continuous double auction trades, where users can trade on yes/no outcomes, to polls, where users can choose from multiple options to trade, it added.