Jackpot.com secures $10 million in latest funding round

(PRESS RELEASE) -- Jackpot.com has secured a $10 million revolving credit line, backed by the House Advantage Fund from Discerning Capital and the financial expertise of Singapore-based PvX Capital.

This funding is a significant boost for Jackpot.com as it seeks to enhance its services in existing states and tap into new markets. Currently, Jackpot.com operates in Arizona, Arkansas, Colorado, Massachusetts, New Jersey, New York, and Ohio, offering customers the ability to buy scratch-off lottery tickets in states like Colorado, Massachusetts, and Ohio.

In statements regarding this partnership, Akshay Khanna, co-founder and CEO of Jackpot.com, expressed gratitude toward their funding partners. He noted the House Advantage Fund’s collaborative nature and adaptability in developing a financing solution that aligns perfectly with Jackpot.com’s growth strategies.

“The real-time data provided by PvX’s platform, paired with Discerning’s flexible financial structuring that supports our acquisition goals, were pivotal in our decision to collaborate. We are eager to join forces as we swiftly grow our business,” Khanna remarked.

David Williams, a partner at Discerning Capital, echoed these sentiments, highlighting the untapped potential within the lottery sector and recognizing Jackpot.com as a pioneering force in an age-old industry. “We see Jackpot.com as the perfect partner, fully grasping their business dynamics and continually impressed by their dedicated team,” Williams stated.