Kutt Inc.

Founding and Vision

Kutt was founded in 2022 by Sim Harmon, who brought nearly 20 years of experience in the gaming and betting space. Harmon’s vision was to create a platform that allowed direct, social wagering without a house edge, contrasting with traditional sportsbooks where the operator always takes a cut. The company describes its product as “a more interactive version of Venmo, with a focus on betting.” Kutt’s mobile app launched on the Apple App Store in 2021 (per App Store listing date), but the company itself was formally incorporated in 2022 according to the official Bitcoin Depot acquisition press release. (A Republic fundraising page lists a founding date of January 2019, but this appears to be the start of an earlier concept; the authoritative Bitcoin Depot PR and other consistent sources point to 2022.)

Platform Features

The platform’s core functionality allows users to create or join bets on any verifiable event – sports games, election outcomes, award shows, or even personal challenges. Bets are peer-to-peer, meaning two users agree on the terms and stake, and Kutt acts as the escrow and verification layer. Social features include the ability to challenge friends, share bets on social media, and view a feed of public bets. Kutt emphasizes skill-based wagering, classifying itself as a “social betting” rather than a gambling platform in some contexts, though users wager real money.

Funding and Acquisition

In May 2024, Kutt closed a $1 million funding round led by Lightning Capital, with participation from Entrepreneur Ventures and other angel investors. This round was structured as a SAFE (Simple Agreement for Future Equity) on the Republic platform, targeting a minimum of $25,000. The Republic campaign also highlighted the leadership team: CEO Sim Harmon and CTO James Tice, who together have over 20 years of combined experience in gaming and betting. The most significant corporate event came on March 2, 2026, when Bitcoin Depot announced its acquisition of Kutt. Bitcoin Depot, a publicly traded Bitcoin ATM operator, saw the acquisition as its entry into the P2P social betting market, a “fastest-growing segment of consumer fintech.” Scott Buchanan, CEO of Bitcoin Depot, stated that the company would support Kutt’s next phase through product innovation and expanded marketing reach. Sim Harmon, founder and CEO of Kutt, expressed optimism about reaching new audiences and building better experiences for the community. The acquisition closed with Kutt’s leadership team remaining in place, and the platform continues to operate under its existing brand.

Business Model and Market Position

As of early 2026, Kutt’s headcount is in the range of 2–10 employees, per its LinkedIn profile. The company’s headquarters is listed only as “United States” on LinkedIn, with no specific city confirmed; likely it operates remotely or from an unlisted location. The official website is https://www.kutt.com/. Kutt’s primary product is its mobile app (iOS), with a web-based version also available. The platform is available in most U.S. states, though exact licensing details are not publicly disclosed. Kutt’s business model relies on transaction fees or a small rake on bets (not explicitly detailed in public sources), but unlike traditional sportsbooks, it does not set odds – users determine the terms. This model positions Kutt as a social gaming and fintech hybrid, rather than a licensed sportsbook operator. The acquisition by Bitcoin Depot signals a strategic move to combine Kutt’s social betting technology with Bitcoin Depot’s extensive cash-to-crypto network and retail presence in 47 U.S. states.