Crypto-first operator Monkey Tilt raises $30m in latest funding round
Costa Rica-based brand has raised more than $50m in capital since first launching in March 2024, as it plans to roll out a “crypto trading gamified product” in Q1 2025
Monkey Tilt has raised $30m (£23.7m) in its latest funding round, with the crypto-centric casino and sportsbook planning to add poker and a crypto trading product to its offering.
The Series A funding round, which concluded over the summer, was led by California-based hedge fund Pantera Capital, with Polychain Capital, PokerGo and Hack VC participating.
Dream Ventures, Accomplice, Mirana and Josh Hannah also contributed capital during the raise.
Pantera’s previous portfolio investments include Coinbase, FunFair Technologies and Unikrn, the esports operator that was acquired and eventually shuttered by Entain.
Hannah is the co-founder of Flutter.com, the business that merged with Betfair in the early 2000s.
As per Fortune, Monkey Tilt is planning to use the latest capital injection to fund paid advertising and marketing, as well as hiring tech staff to support the platform.
Monkey Tilt operates as a crypto-first platform which currently encompasses traditional casino games and sports betting, with a heavy emphasis on the social element of igaming.
The site includes a live chat function where customers can engage with one another. At the time of writing, 22 users are online.
According to the operator’s website, the company is based in Costa Rica, and its parent company, Kong Quest, holds a licence from the Tobique Gaming Commission.
As per the firm’s terms of service, users may not open accounts or make deposits if they are based in certain countries, including the UK, US, vast swathes of the EU, Africa, Asia and the Americas.
The brand’s online casino site hosts titles from major suppliers including Pragmatic Play, Evolution and Push Gaming.
The firm has also named controversial boxer Ryan Garcia as its “chief trolling officer” as part of a brand ambassador deal.
Monkey Tilt boasts almost 160,000 followers on X and 187,000 followers on Instagram.
Since first launching in March 2024, the company has raised more than $50m in funding. It has also amassed a monthly betting volume surpassing $200m.
Moving forward, the firm will look to launch a new crypto-trading gamified product in Q1 2025. There are scant details available for how this product will manifest on the site.
Company founder and CEO Sam Kiki said: “The reality is this industry has failed to keep up with how people want to game, connect and interact. Monkey Tilt was designed to completely upend what we think of as the traditional gaming experience.
“What we’re creating is immersive, engaging and culturally relevant – and everyone is recognising it.”
Pantera Capital’s Ryan Barney added: “Monkey Tilt is pushing the online gaming world into a new era that’s head and shoulders above the rest of the market.
“Sam [Kiki] has already proven to be an authoritative leader in this space, and we’re so proud to back a platform that’s genuinely shaping the future of entertainment.”
Speaking to Fortune, Kiki shared his future vision for the brand, which he sees as being an entertainment company as well as a casino platform.
He said: “I’m looking at the future as you log in and you’re hanging out on the site for a few hours, talking to your friends. You’re gambling together. You’re having fun the same way you would in [Las] Vegas.
“We’re going to partner with all the dopest streamers, the cultural icons, the coolest brands, but on top of that, we need to make content with them.
“We’re very big on the integration of lots of social features. I think the gaming platform of the future looks much more socially immersive than the gaming platforms of the past.”