US sports betting exchange startup Novig has set its sights on ramping up its efforts to take on the US sports betting industry, receiving backing from Y Combinator.
Co-Founded by Jacob Fortinsky and Kelechi Ukah – two Harvard graduates with experience in quantitative trading and fintech – Novid is a commission-free sport betting exchange that ‘guarantees bettors the best lines’.
As a betting exchange, users bet against their peers rather than against the house, creating what Novig describes as a ‘more efficient, fair and most importantly, profitable’ experience.
Y Combinator has invested in the company to propel its ambitions to take on some of the biggest names in Us sports betting.
The investment firm has been renowned for investing in startups and has backed companies including Airbnb, Stripe, Dropbox, Coinbase and Reddit.
Novig CEO Jacob Fortinsky, commented on the investment: “We’re thrilled to be joining this incredible community of founders, and we’d particularly like to thank our group partners Dalton Caldwell, Diana Hu, Nicolas Dessaigne, and Richard Aberman.
“Our platform will revolutionize the sports betting industry and experience as we know it, and it’s great to have YC’s support in realizing that vision.”