Funding Roundup: Youbetme Closes USD 2.7M in Series A Funding; FastPay Secures USD 15M and More

Social Betting App Youbetme Secures USD 2.7 million in Series A Round 

Social betting app, Youbetme has secured USD 2.7 million in Series A led by SierraMaya360, DVG, and Abingdon Capital. The raised funds will be used to hire new talent and fuel its growth. As part of the investment, Angel investor Brad Stroh is joining the Youbetme board of directors, reports TechCrunch.

Earlier this year, the company received USD 1.2 million in Seed funding. Including this round, it is having a total capital of USD 5.1 million, till date.

Founded in 2012, the San Francisco, California-based Youbetme launched the app of the same name in January, listing itself as a way to ‘bet on anything, at any time’ either through its iOS app or it’s website. The app does not support real-money betting, but tracks a real-time stream of what your friends have been betting on. Check who wins, who loses, and who pays up. Also, there is an Android App in beta testing.

FastPay Clsoes USD 15 million from Oak HC/FT

FastPay, a financial platform that provides credit to digital media companies has raised USD 15 million in PE funding from Oak HC/FT, a growth fund from Oak Investment partners that focused on health care and financial services.

Founded in 2009, with offices in Los Angeles and New York, it has originated nearly USD 500 million in loans to hundreds of companies, enabling business owners to focus on growth and strategy. It works with a wide variety of media businesses, including advertising agencies, DSPs, SSPs, RTB advertising exchanges, web publishers, creative agencies and app developers to provide flexible financing options to clients.

The Chennai Angels Invest in
The Chennai Angels (TCA), have announced an investment in Mumbai based online jewellery platform, Velvetcase. The round was led by TCA investors Kayar Raghavan and Lakshmi Potluri among other business professionals and angel investors including Jacob Kurian, Jerry Rao and Arihant Patni.

Velvetcase was founded in year 2012 by Kapil Hetamsaria & Runit Shah. It partners with handpicked designers from across the world and brings the design variety to consumers across the world. The team has built leverages technology like 3D printers and process innovations in jewellery manufacturing.