Slips, a peer-to-peer betting company positioning itself as an alternative to traditional sportsbooks, said it has raised a $3.5 million series seed round to accelerate product development, hiring, and national expansion. The round was led by Las Olas Capital and Sunset Bay Capital. Slips also cited participation from several individual and strategic investors, including Andrew Schwartzberg, whom the company identified as a co-owner of the Charlotte Hornets and Leeds United.
Slips describes its platform as “social-first” and peer-to-peer, matching wagers directly between users rather than setting centralized odds or taking the other side of bets. The company said its products include Heads Up, Pools, Tourlays, and AI-generated peer-to-peer prediction markets.
Slips said the financing follows what it characterized as strong recent traction, including more than 500% year-over-year growth. The company framed peer-to-peer wagering as an emerging category driven by users seeking player-driven alternatives to traditional sportsbook models.
Beyond app-based competition, Slips said it is building “in-real-life” use cases through geo-located groups designed for venues such as bars, stadiums, and private clubs, as well as recreational sports communities including padel, pickleball, and golf. The company said these features allow users to wager against other attendees, track winnings, and cash out within the platform, while giving venues a way to offer peer-to-peer betting as a member engagement benefit.
Slips said it will use the new capital to deepen its technology stack, expand its team across product, engineering, and growth functions, and increase user acquisition. The company also pointed to recently launched ACH payouts, saying the feature improved liquidity and contributed to premium memberships growing more than 300% in the first month after launch.
In addition, Slips said it is investing in new financial infrastructure, including crypto payment support, exploring stablecoin-based withdrawals, and preparing for international expansion.
KEY QUOTES:
“We’re pioneering a new model for betting — one that’s peer-to-peer at its core. By removing the house and letting players compete directly, we’ve created something more transparent, more social, and more aligned with how people naturally want to play.” “We’re seeing strong, organic demand. Once players experience peer-to-peer — where your take matters and someone always wins — it’s hard to go back.” “Peer-to-peer is even more powerful in real life. We’re turning live moments into shared competition — on site and on platform.”
Jess Richman, Founder & CEO, Slips
“This is still early. This capital helps us move faster on infrastructure, financial rails, and real-world integrations that unlock scale.”
Gurminder Singh, CTO and Co-Founder, Slips
