Honcho Markets Ltd.
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Honcho Markets Ltd. - overview
Established
2014
Location
-, -, UK
Primary Industry
Financial Services
About
Honcho Markets Ltd. is a UK-based company that operates as a facilitator of online gambling, providing a platform for various betting options and engaging gaming experiences for users. Honcho Markets Ltd. , founded in 2014, is headquartered in Durham, UK.
The company specializes in online betting services and has been involved in three deals to date. The latest funding round occurred in April 2020, when it secured GBP 1. 20 million from returning investors Durham County Council Pension Fund and North East Fund, bringing the total amount raised to GBP 1. 20 million and valuing the company at GBP 5.
90 million post-money. The founder, Li Yu, has an entrepreneurial background, although there is no information available about other companies he may have previously founded. Honcho Markets Ltd. operates the Jaya365 online gaming platform, which specializes in a variety of gambling products, particularly focusing on sports betting and online slot games.
The platform acts as a trusted agent for numerous online betting options, including Mix Parlay betting and is powered by leading providers such as Pragmatic Play, Microgaming, and Playtech. Users can access the engaging gaming experience on mobile devices running Android and iOS, making it convenient for players in Southeast Asia. The revenue model for Jaya365 is primarily based on transaction fees and commissions from gaming activities. Revenue is generated from player deposits and wagers, with earnings derived from successful bets and service fees for deposits and withdrawals.
The platform's business-to-consumer interactions enhance the user experience, while promotions and incentives help attract new users and retain existing ones, contributing to a steady revenue stream. Honcho Markets Ltd. plans to leverage the GBP 1. 20 million raised in April 2020 to enhance its platform and expand its offerings.
The company aims to enter new markets in Southeast Asia by developing additional gaming products, although specific launch dates have not been disclosed. This funding will support the development of new gaming options and increase the reach of Jaya365, allowing the company to tap into a broader audience.
Current Investors
Maven VCT, Durham County Council Pension Fund, North East Fund
Primary Industry
Financial Services
Sub Industries
e-Financial, Insurance, Accounting/Finance Software, Analytics & Performance Software
Website
www.gethoncho.com
Verticals
E-commerce, FinTech, Mobile Apps
Company Stage
Early Stage
Total Amount Raised
Subscriber access only
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