# Novig

> Novig is a commission-free, peer-to-peer sports prediction exchange that lets users trade against each other instead of betting against the house. By running an order-book market with no vig (the bookmaker's hidden cut), Novig delivers fairer odds, full transparency, and no limits on winning players. Founded in 2021 by Harvard students Jacob Fortinsky and Kelechi Ukah, the New York company has raised over $105 million and is pursuing a federal CFTC license to operate a regulated sports exchange in all 50 states.

- **Founded:** 2021
- **Headquarters:** New York, New York, United States
- **Founders:** Jacob Fortinsky (Co-Founder & CEO), Kelechi Ukah (Co-Founder & CTO)
- **Team size:** ~55-58 employees
- **Products:** Novig Sports Exchange, Novig App (iOS & Android)
- **Notable:** Raised over $105 million total across Seed, Series A, and Series B rounds, Reached a $500 million valuation in February 2026, Grew trading volume roughly 10x during 2025; ~100x growth across volume metrics in 16 months

## Products & services

- **Novig Sports Exchange** — A commission-free, peer-to-peer sports prediction exchange using an order-book model. Users set or take odds and trade against each other rather than against a bookmaker, eliminating the vig and giving fairer, market-driven pricing.
- **Novig App (iOS & Android)** — Mobile apps for trading sports markets in real time with live odds, cash-out, and no betting limits on winners.

## Achievements

- Raised over $105 million total across Seed, Series A, and Series B rounds
- Reached a $500 million valuation in February 2026
- Grew trading volume roughly 10x during 2025; ~100x growth across volume metrics in 16 months
- Surpassed $4 billion in annualized trading volume, with a month reaching $400M in cash traded
- 23% of users profitable vs. ~2% on traditional sportsbooks
- Filed with the CFTC to become a federally regulated sports exchange available in all 50 states
- Backed by NFL Hall of Famer Joe Montana and YC's Paul Graham

## Latest updates

- **2026-02** — Raised $75M Series B led by Pantera Capital at a $500M valuation; total funding tops $105M.
- **2026-01** — Submitted an official request to the CFTC to become a licensed Designated Contract Market (DCM), aiming to operate as a federally regulated exchange in all 50 states.
- **2025** — Trading volume grew roughly 10x year over year, surpassing $4 billion annualized.

## Links

- Website: https://novig.us
- LinkedIn: http://www.linkedin.com/company/novig
- Twitter/X: https://twitter.com/Novig
- Instagram: https://www.instagram.com/novig
- TikTok: https://www.tiktok.com/@novig

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Profile page: https://yespress.io/novig
Published by YesPress — https://yespress.io
Last updated: 2026-06-13