Betmate Raises $2M in Series A Funding Round via Accelerate Ventures

Liverpool-based social gaming startup Betmate has successfully raised $2 million in a new Series A funding round, with the investment led by Accelerate Ventures, a London-based venture capital firm. 

This latest funding round also includes capital for Engage Games, Betmate’s business-to-business (B2B) arm specializing in white-label, free-to-play game solutions.

Founded in 2020 by Ryan Lawrence and Declan Dowling, Betmate offers a unique “people-versus-people” sports gaming experience, alongside daily fantasy football and sports accumulators. 

“Kicking Off 2025 With Some Incredible News”

Lawrence celebrated the funding milestone on LinkedIn, emphasizing its importance for the company’s growth trajectory and announcing plans to hire key personnel. 

“Kicking off 2025 with some incredible news: we’re closing our latest $2m funding round for Betmate and Engage Games, led by Accelerate Ventures,” he said, adding the latter were “joined by world-class investors with backgrounds in sports, gaming, and betting.”

According to Crunchbase, Betmate raised an undisclosed amount in September 2022 using seed funding from Stamford, Lincolnshire-based Haatch. 

The company specializes in accelerating pre-seed B2B SaaS companies to their first £1 million accounting rate of return and building the infrastructure to get to £10m+.

“Gearing Up for an Even Bigger 2025”

“We ended the year as the UK’s highest-rated gaming app,” emphasized the same cofounder, further explaining they were preparing “for an even bigger 2025, with exciting new features, game modes, and sports on the horizon.”

“This milestone is the culmination of a lot of hard work throughout 2024; a true rollercoaster year of both incredible growth and a lot of challenges along the way. It’s the perfect way to end one chapter and start 2025 full of excitement,” Lawrence added while taking the opportunity to thank their team, investors, and community.

Engage Games, the company’s B2B branch, will use part of the funding to expand its offerings, helping businesses engage better with their audiences through bespoke games. 

Betmate is currently seeking a head of growth and a head of B2B to support these efforts.

Inaugural Investment for Accelerate Ventures

For Accelerate Ventures, this marks its inaugural investment since its launch in 2023, founded by Lucas Danson, a director at Wigan Athletic FC. 

The firm expressed enthusiasm for Betmate’s vision and future growth potential, stating:

“We are excited to work with and help Betmate to grow and build the next phase of their business, Engage Games, which provides white-labeled bespoke games for clients who want to better engage with their target audience.”

Betmate operates under licenses granted by the UK Gambling Commission, including linked gambling software and pool betting licenses, issued in February 2021 for its platform betmate.app. 

Over the past few years, the startup has grown significantly, becoming the UK’s highest-rated gaming app in 2024.

In similar news, crypto-focused casino and sportsbook Winna.com ended last year with a $15 million seed funding round that will be used for further expansion following its summer launch. 

BetHog, a crypto casino and sportsbook founded by the creators of FanDuel, also completed its Alpha launch and raised $6 million in seed funding in November 2024.