TipsterChat is a Spanish betting recommendation application that was created last September.

Now, three months later, it has just sold for the first time part of its shares for €1m in order to consolidate its position in the market.

It has done so to well-known Spanish and UK investors.

MEET TIPSTERCHAT

Firstly, it should be noted that does not define itself as a bookmaker.

Founded by Eloi Montes, Dani Flores and Álex Loperaall three with years of experience in the online world, the creation of startups, and the online gambling industry.

TipsterChatlaunched in September 2019, features Vicenç Martí, entrepreneur and President of elrowas senior advisor and partner.

It is intended to facilitate access to information and expertise., referred to as tipsterswhich until now have been working from decentralised channels such as Telegram or Whatsapp.

In addition, aims to establish its responsible gambling proposal.

It is available in the Play Storethe AppStore and soon in web format.

UNLOCKING CONTENT

The business model TipsterChat consists of the unlocking premium content.

Thus, although 80% of the published content is free, there is paid content that is unlocked through coins.

It is the Tipster who decides independently on the price of access to their tips or if you prefer to share them for free.

During these first months of life, the company has exceeded 110,000 euros in turnover and 13,000 registered users.

The aim is to reach 10,000 active users by early 2020.

At this time, the tipsters have published more than 800 tipswhich yielded a return of 18%.

ENTRY OF PRIVATE INVESTORS

So far, the TipsterChat team has developed its technology with in-house talent and in-house resources.

However, this December has soldThe company has, for the first time, part of its shareholdings in a financing round from 1M€.

Well-known private investors from Spain and the UK have participated in the project.

With this sale, the company seeks to grow and establish a product that aims to help gambling in a responsible way and at the same time educate the user.

The application allows them to access statistics, information or directly copy the bets of professional tipsters to be able to bet with more knowledge.

OTHER SIMILAR ROUNDS IN THE SECTOR

THE ATHLETIC

It is a American sports media firm with a focus on underwriting.

The Athletic aims to be the most credible sports voice by combining privileged access to the locker room with in-depth analysis from industry professionals.

It recently sold part of its shareholding in a Series C round, worth almost $22M.

ITERABLE

Iterable is a American marketing platformwhich allows the user to participate.

It allows industry professionals to create campaigns.

Similarly, thanks to Iterable, brands can create, execute, and optimise campaigns via email and SMS.

This December, it has managed to capture $60M by selling part of its shareholding in one round, SERIES C.