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Edge, the esports payment platform, just raised $1.5 million in a seed funding round backed by Green Egg Ventures and former Mastercard executive Robert Reeg.
Founded in 2018 by former sports lawyer Adam Whyte, gaming industry veteran David Yarnton, and 17-year-old coding whiz kid Scott Hiett, Edge’s platform is designed to streamline the contracts, payments, and logistics involved in running esports tournaments.
As previously covered by the Washington Post, the esports industry is awash with questionable contracts and shady numbers. Edge is hoping to bring an end to that by formalizing the process and improving transparency among gamers and sponsors.
Teen cofounder Hiett, who helped start Edge when he was 15, is still in school following a series of “trade negotiations” with his school. These resulted in him being allowed to study one A-level qualification (students in the UK usually take between three and four) in Maths while he focuses on the business.
“My family’s extremely supportive, and I wouldn’t be where I am today without them,” Hiett told Business Insider. “I’ve been programming as long as I can remember … We literally have photos of me as a kid, sitting with an ice cream tub, and I’ve scribbled ‘computer’ on the lid.”
CEO Whyte, who has represented big-name clubs such as Manchester City and Sevilla FC, is full of praise for his young cofounder: “There are a lot of talented developers out there, but Scott is really unique. He’s doing board meetings and hosting daily stand-ups while doing his A-levels. It’s so impressive.”
Business Insider got an exclusive look at the pitch deck Edge used to raise $1.5 million in funding. Check it out below: