Liverpool-based social gaming startup Betmate has raised £1.6 million in Series A funding led by London-based Accelerate Ventures.
The investment includes capital for Engage Games, Betmate’s B2B arm, specialising in white-label, free-to-play solutions.
The move also marks Accelerate Ventures’ inaugural investment since it was launched in 2023 by former Wigan Athletic director Lucas Danson.
Founded in 2020 by Ryan Lawrence and Declan Dowling, Betmate is said to offer a unique ‘people-versus-people’ sports betting experience, alongside daily fantasy football and sports accumulators.
Lawrence posted about the funding on LinkedIn and 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.
“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.”
Dowling added: “Since 2021, we have been on a mission to revolutionise the gaming world with fun, social, responsible, and low-stake alternatives to traditional sports betting.
“A huge thank you to our incredible team for their tireless dedication and exceptional performance, and to our investors, past and present, who have made this journey possible.”
Engage Games, the company’s B2B branch, will use part of the funding to expand its offerings, helping businesses engage better with their audiences through bespoke games.
Betmate is currently seeking a head of growth and a head of B2B to support these efforts.