Sporttrade is a fintech sports-betting company developing what it says will be the first regulated sports betting exchange in the U.S. Based in Philadelphia, the company is led by a team with backgrounds in sports betting and capital markets. Sporttrade announced a $36 million financing and also issued convertible debt to Nasdaq Ventures as part of the transaction. The company said it will use the proceeds for customer acquisition, expansion into additional states, and continued investment in its team. The product is positioned as an exchange-style alternative to traditional sportsbooks. No revenue or user metrics were disclosed in the announcement.

Total raised

$36M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2021