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Fantasy sports site FanDuel lands USD4m
Fantasy sports betting site FanDuel has landed USD4m in Series B investment led by Piton Capital. Existing investors Pentech Ventures and the Scottish Investment Bank also contributed. FanDuel's daily fantasy game allows users to draft a team, play and earn winnings in a single day, rather than over the course of a season. The site covers US sports leagues the NFL, MLB, NBA and NHL. Founded in 2007, FanDuel paid out more than USD10m in winnings this season. The company plans to leverage the funds for product development and hiring more personnel. FanDuel is based in Edinburgh.
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