Betting technology supplier 20Shots has raised an additional £400,000 ($483,262) in capital.
The UK-based company behind free-to-play fantasy football game Fantasy5 has completed a second round of funding, highlighting an investment from Animal Capital.
The US venture capital fund is backed by several social media stars, including Josh Richards, Griffin Johnson and Noah Beck, who target opportunities that may appeal to Gen Z.
Marshall Sandman, Managing Partner of Animal Capital, commented on 20Shots, saying: “Their B2B relationships are uniquely positioned to make this an exciting asset and their ability to resonate and be sticky with a younger audience are all reasons why we were excited to be on the journey.”
The fund invested an undisclosed sum in 20Shots for the new football season, which will see the platform roll out a range of products to expand Fantasy5.
Fantasy5’s core Premier League product offers cash prizes to people who successfully predict how well players will perform.
However, 20Shots is now looking to complement this product with further games covering the Champions and Europa Leagues, as well as other top European competitions. Prizes for the additional leagues will remain at £10,000.
“As demand grows in the ultra-competitive free-to-play space, we’re investing in our ability to quickly and seamlessly roll out products and games on a white label basis for a number of different partners across multiple divisions and competitions,” said Jacob Kalms, Co-Founder and CEO of 20Shots.
The company also touched on the UK Government’s gambling review, which it said would likely see traditional marketing practices come under scrutiny.
Kalms added: “Operators should also be considering how free-to-play and softer marketing funnels like those offered by games like Fantasy5 will help them navigate any changes thrust upon them by the upcoming gambling review.”