Romanian start-up is valued at 2.5 million Euro following 300,000 Euro investment
YEPP, a 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 2.5 million Euro 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 Euro.
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, 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.
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.