Betty, a real-money gambling start-up company has announced it raised $5m in funding from investors including Karlani Capital.
The latest funding round included CEAS Investments as well as Gaingels and OCA Ventures. Subversive Capital was also a part of this investment. This capital had been raised in March 2022 for $1.8 million during the pre-seed phase.
The operator claims that the profits from the game will be used to fund the business operations in Ontario. The Alcohol and Gaming Commission of Ontario issued Betty a licence to operate within the province in January.
New York’s start-up said it expects to launch a soft version of its product in February. This will be followed by an expanded market entry during Q2. This capital will be used for the continued development of the company’s igaming platforms.
Value proposition
Betty stated that they had identified an audience of casual consumers who enjoy igaming – namely female slot players. Betty said the brands currently on the market are “sportsbooks at heart”.
Gaingels is a private investment group that focuses on LGBT issues. In reality, more than 50% of the market is made up by women. “We love Betty’s mission of making the category more diverse.”
Betty’s founding team created the US sports betting platform QLM Gaming Group before its current venture. QLM Gaming Group was acquired by Audacy.
