YC-backed predictions app Better Opinions raked in $2.5M seed money

Better Opinions, an app that operates in the prediction market has raised $2.5 million in seed funding from investors, including Metaplanet VC and Goldwater Capital.

YC, Taurus VC, Original Capital, Tremis Capital, Super Capital, and other unnamed investors also joined.

The funds raised will be used to build and expand the product and tech team for marketing and user growth. 

Co-founder CEO Samay Jain said: “The funds will also be used to make Better Opinions a trading-cum- social platform. We have so far seen an excited user base, eager to trade and invest in our platform, and their demand for more events and categories is a testament to the potential of our product. Our vision from here is therefore not only to create a stock market of opinions and make trading accessible to all but to build a social platform where our users can trade and engage”.

Better Opinions is an app that operates in 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. 

Since its launch, 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). Better Opinions also plans to add a social layer to trading to make trading more accessible, fun and educational. Within six months, it claims to have over 600,000 users and covered over 14,000 events.

The startup earlier raised US$700,000 in a pre-seed round from investors, including Soma Capital and Java Capital.

Better Opinions was also part of the W22 batch of YCombinator.