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
- The company 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
