UK-facing social gaming startup secures $2m in Series A funding round
Betmate receives backing from Accelerate Venture, with capital to be used to drive gains as company looks to fill vacant head of growth position
Social gaming startup Betmate has secured $2m in a Series A funding round led by venture capital firm Accelerate Ventures.
The Liverpool-based business offers “people-versus-people sports game on real sporting events”, as well as daily fantasy football and accumulators.
Betmate was launched in 2020 by co-founders Ryan Lawrence and Declan Dowling.
Per the Gambling Commision, Betmate was awarded a linked gambling software licence and pool betting licence in February 2021 under the domain name betmate.app.
The Series A funding round was led by London-based Accelerate Ventures, alongside “world-class investors” that have not been disclosed.
The funding round also includes capital for Engage Games, a B2B provider under the Betmate banner which develops white-label free-to-play games.
Lawrence took to LinkedIn to announce the news, noting the capital will help drive growth and that the firm was looking to hire a head of growth and a head of B2B for Engage Games.
Lawrence said: “Kicking off 2025 with some incredible news: we’re closing our latest $2m funding round for Betmate and Engage Games, led by Accelerate Ventures and joined by world-class investors with backgrounds in sports, gaming and betting.
“We ended the year as the UK’s highest-rated gaming app and are gearing up 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.”
For Accelerate Ventures, the investment marked its first since launching in 2023 after being founded by current Wigan Athletic FC director Lucas Danson.
The VC firm added: “We are excited to work with and help Betmate to grow and build the next phase of their business, Engage Games, which provides white-labelled bespoke games for clients who want to better engage with their target audience.”