Fantasy football game Sorare raises $680m in a Series B round

💵 Series B Round

• France-based NFT fantasy football gaming startup Sorare has raised $680m in a Series B round led by SoftBank. It is considered the largest Series B funding in Europe and the largest funding in the history of French Tech, which values the company at $4.3B
• Other participants of the round include:
  • New investors like Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree, and
  • The company’s existing investors such as Benchmark, Accel, and Partech, and business angels like Reddit co-founder Alexis Ohanian and football players Gerard Piqué, Rio Ferdinand, Antoine Griezmann, and César Azpilicueta
• The proceeds are expected to go towards: 
  • the expansion of the team
  • the establishment of new partnerships — Sorare wants to bring top 20 football leagues and top 50 national teams to its game
  • entering mobile gaming market — currently, the game is available only on the web
  • the scale of its marketing expenses
  • the addition of new sports disciplines — currently there is only a football NFT game available

🎲 Product

• Sorare is the Global Fantasy Football Game where you can trade and collect NFTs. Sorare is scaled on Ethereum with StarkWare
• The game’s community includes over 180 clubs, 6,000 licensed footballers, and 600,000 registered users

💸 Previous funding rounds

• In Feb’21, Sorare raised $50m in a Series A round led by Benchmark with participation from Accel, Alexis Ohanianin, and others in order to grow its community and launch a mobile application

Source: MEDIUM

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