3.8 C
Bucharest
November 30, 2021
BUSINESS BUSINESS COMPANIES COMPUTER SCIENCE ECONOMY IT SCIENCE & TECH

Only six months after its app launch, YEPP start-up is valued at 2.5M EUR

  • YEPP secured a 300,000 EUR investment from US-VC Spyglass Management
  • The founders seek to bolster the first investment round by pursuing an additional 250,000+ EUR sum from SeedBlink investors, starting with Tuesday, November 23rd
  • YEPP aims a “Series A” investment during 2022

 

YEPP, the first social peer-to-peer sports betting app developed in Romania, wants to complete its seed round through SeedBlink, aiming for 250,000+ EUR from the crowd investing platform. The start-up has already secured a 300,000 EUR investment from Spyglass Management, a private investment firm based in Chicago (USA). The investment was completed on a pre-money valuation of 2.5M EUR further underlining the competitive and business potential the start-up has.

YEPP aims to revolutionize sports entertainment by allowing sport fans to bet on any sport event, directly between each other, in a friendly, simplified, and digital environment. The start-up is Romanian-based, and the locally developed app was launched in 2021, following the founders’ initial investment of over 350,000 EUR.

YEPP’s mobile app is compatible with both Android and iOS devices and is already available in 10 languages in countries and territories across Europe, North America, and South America. The app allows users to place sports bets with their friends, to locate local sports bars, while also offering an overview of sports broadcasting channels. YEPP users can now benefit from a social and personalized fan engagement journey, that they’re in full control of.

This investment is more than an important milestone for YEPP. It’s a steppingstone and show of trust in our vision – giving sport fans a tool to enjoy sports together with their friends. And we’ve only just started, with a lot of expansion plans in our sights! Through this seed round, we will be able to not only continue unlocking YEPP’s potential, but to launch YEPP in important international markets and start bringing the app in the hands of sport fans worldwide.” said Cosma Wolkonsky (photo), CEO YEPP.

YEPP has shown signs of fantastic potential and we’re excited to stand by them in unlocking this potential and opening new ways to entertain people, starting from fans’ passions and favourite sports. The team behind this disruptive product has also shown its dedication to innovating an industry as old as time, and we believe the time is right for YEPP. The peer-to-peer online social sports betting platform is a bold and innovative resource, that we believe has great potential for traction.” said Ted Cominos Advisor to Spyglass Management.

 

Expansion Plans

 

YEPP will focus to further grow its presence and operations in 9 key cities in Europe, including Berlin, London, Madrid, Milan, and Paris, as of January of 2022. With The Qatar World Cup 2022 in sight, YEPP’s 2022 expansion plans include major sports cities across the globe.

 

Related posts

Free Wi-Fi from Orange in trains travelling on Bucharest-Constanta route

Nine O' Clock

OmniTRAX urge suspension of CFR Marfa procedure privatisation

Nine O' Clock

Romania, EU’s 2nd highest increase in industrial production in January

Nine O' Clock