• Novig confirmed that it successfully completed an $18m Series A funding round
• The funding round was led by Forerunner and supported by existing investors
• Jacob Fortinsky, Novig’s CEO and co-founder, speaks about Novig’s growing presence

The only platform that offers commission-free, peer-to-peer trading on sports in the United States, Novig, announced the completion of a funding round.

Recognized as America’s #1 Sports Prediction Market, the platform, founded by Jacob Fortinsky and Kelechi Ukah, successfully closed an $18m Series A funding round.

Novig plans to use the new capital for product development and expansion

In a statement, Novig confirmed that the Series A funding round was led by Forerunner.

Moreover, existing investors such as NFX, Gaingels, Perceptive Ventures and Y Combinator also participated in the funding round.

Tapping into fresh capital, Novig revealed that it intends to broaden its reach in existing markets, while at the same time growing its coverage with the addition of new sports.

What’s more, the fast-growing peer-to-peer sports trading platform intends to deliver new features for its growing customer base.

Such can include head-to-head trading, group contests, as well as leaderboards, among other new functionalities.