Jake Paul’s Betr Startup Raises Funds at $375 Million Valuation

Betr Holdings Inc., the sports-betting startup co-founded by social media star and boxer Jake Paul, has raised funds at a $375 million valuation as it prepares to ramp up gambling operations.

The $15 million financing round set to be announced Wednesday was led by venture capital firms Harmony Partners and 10X Capital. Existing investors include Fuel Venture Capital Partners, Aliya Capital Partners and Eberg Capital. The new round brings Betr’s total funding to $100 million.

Betr started operating in 2022, with Paul declaring that the existing sportsbooks needed influencers like him to draw users and that ...