23 Broadway raises $3M seed to scale AI-powered iGaming user acquisition financing
What's the deal? 23 BroadwayDealroom has a profile for this one. Try Dealroom →, a fintech startup serving the iGaming industry, has raised $3M in seed funding to build out its AI-powered user acquisition financing platform. The round was co-led by Betty and Will VenturesDealroom has a profile for this one. Try Dealroom →, with participation from 359 CapitalDealroom has a profile for this one. Try Dealroom →, CEAS InvestmentsDealroom has a profile for this one. Try Dealroom →, and angel investor Dave Bartman.
The company offers growth-stage gaming operators a single solution that combines non-dilutive capital for customer acquisition with performance marketing and proprietary technology. Its AI system, called Atlas, determines the optimal cost of acquiring a customer and predicts their long-term value.
Why now? Online gambling markets are expanding rapidly, especially in North America, where new states and provinces continue to regulate. 23 Broadway has already proven its model with operator Betty, helping the brand reach an 18% market share in Ontario — a result it attributes to its in-house performance marketing team and Atlas.
The seed capital will fund further development of Atlas, with a focus on predictive modelling, new AI-driven models tailored to gaming operators (particularly around retention marketing), and onboarding new partners.
What could go wrong? The iGaming sector faces regulatory unpredictability across jurisdictions, which could limit the startup's ability to scale. Relying on AI to predict customer lifetime value also carries risk — if models misjudge acquisition costs, the non-dilutive financing at the core of the business could generate losses.
The signal: Betty co-leading the round as a corporate investor — after 23 Broadway helped it capture 18% of the Ontario market — suggests a client-turned-backer dynamic that validates the platform's real-world impact. It also hints at a broader trend: as iGaming operators in newly regulated North American markets scramble for market share, specialised fintech infrastructure that bundles capital with AI-driven performance data could become a competitive necessity rather than a nice-to-have.
Read more: next.io
