Jackpot.com Secures $10M from Discerning Capital, Seeks US Growth

Jackpot.com, a leading independent lottery courier service, has secured extra funding that will allow it to continue to expand its presence in the US. The company currently operates in 7 states and is looking forward to launching in additional ones.

Jackpot.com Seeks Growth in the US

The announcement confirmed that Jackpot.com has secured a $10 million revolving credit facility. The credit facility was provided by Discerning Capital’s House Advantage Fund, as well as by PvX Capital, a financial services expert based in Singapore.

The extra funding will provide Jackpot.com with the means to pursue its ambition and bolster its US growth. The company’s plans include growth in existing markets, as well as additional launches in new states.

For context, Jackpot.com’s offerings are currently available in Arizona, Arkansas, Colorado, Massachusetts, New Jersey, New York, and Ohio. Players in Colorado, Massachusetts and Ohio and also buy scratch-off tickets via Jackpot.com.

Discerning Capital Hails Jackpot.com as a Visionary

Jackpot.com leaders praised the new funding, with Akshay Khanna, the platform’s co-founder and chief executive officer, admitting that the House Advantage Fund’s flexibility and willingness to cooperate with the lottery courier’s team have been nothing short of “impressive.”

According to Khanna, House Advantage Fund went a step further and worked with Jackpot.com leaders to design a financial solution tailored to the latter company’s needs.

Real-time insights from PvX’s custom-built platform, combined with Discerning’s ability to structure a flexible solution that supports our acquisition strategy were critical factors in our decision. We look forward to partnering and growing with them as we continue to rapidly scale the business.

Akshay Khanna, co-founder & CEO

David Williams, partner at Discerning Capital, was similarly pleased with the arrangement. He highlighted the huge opportunities presented by the lottery sector and hailed Jackpot.com as a frontrunner in modernizing this century-old industry.

Jackpot.com was the perfect partner for us as we understand their business, its peaks around billion-dollar jackpots, and we have continued to be impressed by their team.

David Williams, partner, Discerning Capital

Not All States Approve of Lottery Couriers

The agreement comes amid some pushback against lottery couriers. While customers have delighted in the convenience offered by such platforms, some lawmakers have questioned their legality.

In Texas, the popularity of lottery couriers led to a huge scandal that culminated in the prohibition of such services and the dissolution of the Texas Lottery Commission.