Former SimpleBet execs secure $3m in capital to support B2B betting startup
Huddle will offer a data-driven betting solution to help operators innovate while keeping costs low
Three former SimpleBet executives have secured $3m in seed funding to support their new data-driven sports betting platform Huddle.
Ex-EVP sportsbook product and revenue for New York-based SimpleBet, Leo Gaspar, has founded Huddle alongside former SimpleBet COO Francesco Borgosano and product manager Mario Zdelican.
Industry consultant Jesse Wachtel is also part of the founding team which aims to solve some of the main operational pain points in the betting ecosystem.
Leo Gaspar is co-founder of Huddle alongside two of his former SimpleBet execs and US consultant Jesse Wachtel
“Our idea was actually born back in 2016, [but] at that time it was difficult to raise capital in Europe in a very saturated market where the startup culture is not that strong,” Gaspar said.
“With PASPA being repealed and in general a positive regulatory momentum globally, and our experience in the market giving us exposure to the startup ecosystem, we felt the time was now to pursue Huddle’s vision,” he added.
The supplier is developing a data-driven solution that will use large datasets and predictive algorithms to help operators innovate on their products while maintaining low operational costs.
“We are building a solution designed to address the challenges of the global market, however we are currently working with a few partners in Europe and the US, so we want to make sure to build something relevant to them in order to speed up time to market” Gaspar said.
“Throughout our careers we have had the opportunity to work in many different areas of the gaming industry, ranging from analytics, engineering, trading, operations, and business development.
“In addition to that, Jesse brings a lot of knowledge and experience when it comes to bootstrapping startups, finance, and venture capitalism,” Gaspar added.
Huddle expects to raise further capital over the next two years to support its long-term vision.
While SimpleBet is still in operation, the start-up heavily reduced its staff count earlier this year as Gaspar and Borgosano left the firm.