ParlayX has raised a $1.25 million pre-seed round led by Copenhagen-based Dreamcraft Ventures to build an institutional order-routing, custody and capital-control layer for prediction markets. The funding will support additional venue integrations, development of smart order routing and go-to-market efforts as ParlayX onboards market makers and more venues.
Angel investors in the round include Pet Berisha of Sporting Crypto, Jeffrey Haas of ID8, Jack Corddry (formerly of Frax Finance) and Devin Ardalan, President of US at EVG. The company did not disclose a valuation.
ParlayX funding and investors
According to the company, the $1.25 million pre-seed round was led by Dreamcraft Ventures, with participation from several fintech and betting-focused angels.
Product, integrations and roadmap
ParlayX provides institutional order routing, custody and capital control infrastructure, positioning itself as a non-custodial, fund-grade layer with granular permissions and unified portfolio visibility. The platform offers an OEMS across supported venues aimed at trading desks, market makers and quantitative funds. ParlayX has onboarded four venues — Kalshi, Polymarket, Limitless and ProphetX — and expects to add Novig and Polymarket US early in the NFL season. The startup has also onboarded its first 10 market makers, who use its API and SDK to deploy algorithmic strategies across venues, and is working through a waitlist of additional quantitative desks and hedge funds.
Use of proceeds and go-to-market
ParlayX said the new capital will be used to expand venue integrations, enhance its proprietary smart order routing algorithms and scale global go-to-market operations. “Prediction markets are rapidly maturing into a multi-billion-dollar asset class, but the underlying infrastructure has remained heavily fragmented and retail-focused,” said Dreamcraft Ventures general partner Nikolaj Nyholm. ParlayX plans to raise its industry profile through a series of conference appearances; CEO and co-founder Andrew Gonzalez is scheduled to speak at the Global Prediction Markets Forum at SBC in Lisbon and at multiple prediction market-focused events in New York later this year.
