Better Opinions has raised over $1 million in a pre-seed round from Y Combinator, Java Capital, and Soma Capital.
The round also saw the participation from Angel Investors including Mayank Kumar, (Co-founder, UpGrad), Sudhanshu Raheja, (Head of Product & Engineering, GoTo Financials – Gojek-Tokopedia), Pratyush Prasanna (SVP, Gojek), Chinmaya Sharma, (Chief Commercial Officer Namshi) and from the Ranadive Family, the co-owners of Sacramento Kings.
Better Opinions is an event trading platform that allows users to trade their opinions on events in various categories such as cricket, football, finance, and entertainment, and allows users to trade on events while matching them with a person with a complimentary trade. It is the stock market exchange of opinions. With events trading emerging as a whole new asset class across the globe, Better Opinions is targeting Rs 1 crore monthly GMV in Q2 and 1 million users in Q4.
Speaking on the fundraise, Samay Jain, Samay Jain Co-founder & CEO, Better Opinions said, “We aim 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. In the process, they also start experiencing the excitement of trading.”
The funds raised will be used to build & expand the product and tech team, grow the existing user base and educate the users about events trading. Better Opinions is an app where events are created in the form of binary yes/no questions to make trading more relatable, accessible, and widespread.
Commenting on the funding, Vinod Shankar, Co-founder and Partner, Java Capital said, “We at Java Capital are very excited to invest in Better Opinions and back Samay and Soumyajit, who have shown maturity and purpose in building Better Opinions, and scaling it at a fast pace.”