PropSwap Closes $2 Million Round of Funding
Summary
The company intends to use the funds to launch the marketplace in newly legalized states, accelerate product development, increase user acquisition efforts, and continue to partner with gaming operators around the country. Participants of the round include: Boston-based Fama Ventures, Chris Grove (partner at Eilers & Krejcik Gaming, and investor/advisor focused on the legal U.S. sports betting and online gambling industry), David Freedman (founder of Inc.s fastest-growing company in 2019, Freestar), executives from each Airbnb and Instacart, executives in the private equity sector, along with continued follow-on investments from current investors. "This new investment allows us to move quicker than ever before, a critical attribute in the rapidly expanding sports betting industry," said PropSwap co-founder Luke Pergande. The company has been featured in: Forbes, New York Times, Wall Street Journal, ESPNs SportsCenter & Around the Horn, and the Chicago Sun-Times, among dozens of other prominent media publications. Customers who place a legal sports bet in the US are able to list their tickets for sale, at a price they determine, and PropSwap helps them find a buyer.