Why We Invested: Tipspace
Startups don’t usually have five founders. It may even indicate a yellow or red flag for many analysts, who for this reason alone would no longer go ahead with the investment. However, João and the four other founders of Tipspace have shown us that they have a unique vision about the atmosphere of Games, the result of many years of experience working together.
We met the team when they had another startup and a different thesis, also inside the Gaming industry. They ended up migrating to a new business model, which made a lot of sense for Verve Capital as we considered it to be exponentially better than the previous model, in addition to having a lot of similarity with another company in our portfolio – Rei do Pitaco. It also caught our attention positively an integration that they recently made with a world giant in the industry. Only a “dream team” would be able to make such integration in such a short time; one more point for them.
What does Tipspace do?
It is a platform that allows players to test their skills against other players directly, safely, quickly and fairly by betting money in head to head matches. A place where friends can place bets with each other to “make matches more interesting”.
Until now, players had no other option to do this reliably and electronically. Thousands of them gathered on Discord servers, for example, to organize games, and everything was done in an amateur way; the players had no guarantee that they were at the same skill level, and no guarantee that the opponent would not cheat and, even worse, that they would call the bet in the end. Tipspace brings order and confidence to this disorganized world. And just like Poker sites, they make money with a percentage of the transacted volume.
The Fantastic Five
