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
