Better Opinions, a Y-Combinator backed company, has raised over US$ one million in a pre-seed round from Y Combinator, Java Capital, Soma Capital, and angels including Mayank Kumar, Co-founder, UpGrad, Sudhanshu Raheja, Head of Product and Engineering, GoTo Financials (Gojek-Tokopedia), Pratyush Prasanna, SVP, Gojek, Chinmaya Sharma, Chief Commercial Officer Namshi and the Ranadive Family, the co-owners of Sacramento Kings.
Better Opinions is an event trading platform that allows users to trade their opinions on events in various categories such as cricket, football, finance and entertainment, and allows users to trade on events while matching them with a person with a complimentary trade. It is the stock market exchange of opinions. With events trading emerging as a whole new asset class across the globe, Better Opinions is targeting INR one crore monthly GMV in Q2 and US$ one million users in Q4.
Samay Jain, Co-founder and CEO, Better Opinions explained that the app is also targeted at those individuals who may not be financially literate. “Our aim is to make the app inclusive for all. The stock market unfortunately can be very technical and opaque and therefore isn’t always accessible for all. However, when we start allowing trading in categories such as cricket, politics and entertainment, not only do we make trading more relatable, but we also help improve their financial literacy. In the process, they also start experiencing the excitement of trading,” said Jain.
Vinod Shankar, Co-founder and Partner, Java Capital said, “We at Java Capital are very excited to invest in Better Opinions and back Samay and Soumyajit, who have shown maturity and purpose in building Better Opinions, and scaling it at a fast pace. As a VC, I make decisions on companies to invest/trade, a reflection of our opinion, knowledge and information at a point in time. We are in a privileged position as a VC to make such decisions as part of our jobs. What if you and anyone else want to trade on their opinions? Better Opinions – is a product for everyone who has an opinion on any world event to trade and take a position on the same.”