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US sports betting exchange startup Novig has been backed by Y Combinator, marking a significant milestone in the company’s bold ambitions to disrupt the US sports betting industry.
Y Combinator is the most renowned startup accelerator in the world and has backed globally recognized companies such as Airbnb, Stripe, Dropbox, Coinbase, and Reddit.
Novig is a commission-free sports betting exchange that guarantees bettors the best lines and eliminates the need for traditional sportsbooks. It does this by enabling users to bet directly against friends or the market, rather than against the house, making the betting experience more efficient, fair, and, most importantly, profitable. As the United States regulatory landscape evolves, Novig is positioned to become a leading innovator in sports betting with its unique focus on quantitative research and high-frequency trading.
The company was co-founded by Jacob Fortinsky and Kelechi Ukah, recent Harvard University graduates who are highly experienced in quantitative trading, financial technology, and sports betting markets.
Commenting on the Y Combinator investment, Novig CEO Jacob Fortinsky said: “We’re thrilled to be joining this incredible community of founders, and we’d particularly like to thank our group partners Dalton Caldwell, Diana Hu, Nicolas Dessaigne, and Richard Aberman. Our platform will revolutionize the sports betting industry and experience as we know it, and it’s great to have YC’s support in realizing that vision.”