Blockchain-Based Fantasy Soccer Platform Sorare to Raise $532M in Funding: Report
The NFT company’s valuation could exceed $3.8 billion, according to unnamed sources mentioned in a Business Insider article.
Jul 15, 2021 at 12:32 a.m. UTCUpdated Aug 21, 2021 at 12:22 p.m. UTC
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Digital soccer collectibles platform Sorare is expected to announce that it will receive $532 million in funding, according to a Business Insider report Wednesday.
- The Paris-based company’s valuation could exceed $3.8 billion, the article said, based on comments from three unnamed sources. The amount would represent the largest capital raise in the history of France's technology sector, according to the story.
- Japanese investment firm SoftBank is prepared to lead the funding round and Atomico, a U.K.-based venture firm, will also take part.
- Sorare raised $50 million in Series A funding round in February that was led by venture capital firm Benchmark and that included investments from Reddit co-founder Alexis Ohanian, former soccer stars Rio Ferdinand and Oliver Bierhoff, and current standouts Gerard Pique and Antoine Griezmann.
- A number of Europe’s most powerful club teams, including Bayern Munich, Juventus, Real Madrid and Liverpool have launched non-fungible tokens (NFTs) through the platform.
- Asked by CoinDesk Wednesday to confirm the report, Sorare said that it did not have “anything to announce.”
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