YC backed Better Opinions raises over $1 million in pre-seed round from Java Capital and Soma Capital

By Daisy On Feb 10, 2022

Mumbai: Better Opinions, a Y-Combinator backed company, has raised over $1 million in a pre-seed round from Y Combinator, Java Capital, Soma Capital, and angels including Mayank Kumar, co-founder of UpGrad, Sudhanshu Raheja, head of product and engineering at GoTo Financials (Gojek-Tokopedia), Pratyush Prasanna, SVP of Gojek, Chinmaya Sharma, chief commercial officer, Namshi and 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 several 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. 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.

“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 funds raised 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.

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Founded in 2021, Better Opinions launched its Real Money Gaming App in December last year and within a month of its launch has seen 1.5 lakh sign ups with a week on week growth of 30%.

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