PlayGreen secures $6 million in funding round for expansion in Latin American sports betting market

São Paulo-based PlayGreen has successfully raised $6 million in funding to bolster its sports betting business across Latin America. The funding round was led by Vice Ventures, with the funds earmarked to facilitate the sports media and gaming company’s strategic expansion into Ecuador.

Established in 2020, PlayGreen was launched with a focus on catering to the specific needs of the Latin American sports community, which it believes were not fully met by existing betting apps and media brands.

PlayGreen has developed a consumer platform combining sports media with a sports betting app, specifically designed for players in the region.

Nathan Dionne, CEO of PlayGreen, said: “The future of PlayGreen will be shaped with our audience in mind, and this new round of funding will help us continue growing throughout Latin America to achieve our mission.”

According to PlayGreen, the company aims to distinguish itself from larger competitors by rapidly evolving its features, offering unique user experiences such as machine learning-driven betting suggestions and advanced marketing for its media brands. The company aspires to be a frontrunner in both sports media and betting in Latin America.

The latest funding will enable PlayGreen to introduce features around live-streamed events and expand its sports betting offerings. Vice Ventures, the early-stage venture capital fund that led the round, specializes in investing in non-traditional industries like alcohol, nicotine products, and sports betting.

Catharine Dockery, general partner at Vice Ventures, expressed enthusiasm for the partnership’s next phase: “Vice Ventures is looking forward to continued partnership with PlayGreen as they enter into their next stage of growth.”

PlayGreen’s goal is to offer a platform for fans to engage with their favorite teams innovatively, appealing to Hispanic adults who dedicate approximately 20 hours a week to sports consumption through various media.

With a current staff of 45, PlayGreen plans to expand its team following its foray into Ecuador. To date, the company has raised a total of $9.5 million.

PlayGreen originated from a small group intent on creating a betting environment tailored to the unique needs of Latin players. The company has grown to meet market demands, focusing on connecting daily with enthusiasts in poker, sports betting, esports, and casino games.

“We’re passionate about building a trustworthy community and are always looking for ways to incorporate player feedback into the next enhancements and iterations of the platform,” the company commented.

For betting, players can register using Google, Apple, or a smartphone, and make deposits via Card, Pix (Brazil), or cash (Ecuador). Players have the option to place various sports bets, including Live, Pre-Match, and Parlays, or engage in casino betting with over 5,000 games available.