# Smarkets (Malta)

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/smarkets-malta

- Industry: Internet
- Headquarters: London, UK
- Website: www.smarkets.com
- Total disclosed funding: $2.3M
- Latest round: Series B (Jun 10, 2021)
- Investors on record: 3

## About

Smarkets (Malta) Limited is a UK-based betting exchange platform that offers competitive odds and low commissions for various sports events, enabling peer-to-peer betting among users.Founded in 2008 in London, UK, Smarkets (Malta) Limited operates as a betting exchange, allowing users to place and accept bets directly. The company has raised BRL 4.6 million in venture funding from WE Ventures as of November 29, 2021. The current CEO is Jason Trost, who has played a pivotal role in evolving the company since its inception.Smarkets operates a betting exchange platform that specializes in providing competitive odds and low commission rates across various sports and events. It facilitates a marketplace for betting on sports like golf, basketball, and soccer, allowing users to engage in peer-to-peer betting. The service is tailored to both casual and serious bettors, supporting a diverse range of strategies. The platform is particularly focused on high-profile events in the United States and Europe, aiming to enhance user engagement through favorable betting conditions compared to traditional bookmakers.For the fiscal year 2023, Smarkets reported a revenue of BRL 26,118,906 and an EBITDA of BRL 2,471,699.1. The company generates revenue through a commission-based model applied to net winnings of its users, retaining a percentage of the profits as commission. This flexible pricing structure appeals to various users who seek to maximize their betting returns with no subscription fees.Smarkets aims to utilize the BRL 4.6 million raised in its latest funding round to support the development of new products and expand into additional geographic markets. The company plans to enhance its platform offerings and target further penetration into the US and European markets. Specific details regarding upcoming product launches or timelines have not been disclosed.

## Funding rounds

- Series B, Jun 10, 2021 — DTCP, Susquehanna Growth Equity, Passion Capital
- Series A, Feb 21, 2013, $2.3M — DTCP, Passion Capital

## Investors

- DTCP — Series A, Series B
- Passion Capital — Series A, Series B
- Susquehanna Growth Equity (https://capitalatlas.ai/funds/susquehanna-growth-equity) — Series B