Paris-based NFT Startup Sorare, developer of a global fantasy soccer game where players can buy, trade and play with official digital cards, raises $680 million in a Series B Funding round led by SoftBank.
Founded in 2018, Sorare was created by football fans for football fans. Sorare operates at the intersection of the NFT, sports cards, and global fantasy sports. Through blockchain digital collectibles and its global fantasy football, the company is on a mission to become ‘the game within the game’.
Sorare is transforming online sports fandom and giving its community a new way to connect to the clubs and players that they love.
The platform had a card sales volume of over $130m since January 2021 across 160 countries. Based in Paris, Sorare is funded by a world-class team including Benchmark, Accel Partners, Headline, and footballers Gerard Piqué, Antoine Griezmann and Rio Ferdinand.
The company says it now has over 180 clubs, 6000 licensed athletes, and 600,000 registered users on its platform.
Sorare Series B Funding
Sorare says the round is the largest Series B to date for a European startup, which now brings Sorare’s valuation at $4.3 billion.
Founded in late 2018, the company previously raised just over $50 million, with most of that coming from a $50 million Series A round in February.
The latest funding round which was led by SoftBank also seen participation from other prominent investors Atomico, Bessemer Ventures, D1 Capital, Eurazeo, IVP and Liontree; along with the existing investors Benchmark, Accel and Headline.
Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, said:
“Sorare sits at the intersection of two really exciting industries in digital collectibles and fantasy sports. It’s evident from Sorare’s amazing growth this year alone that football fans around the world have been eagerly waiting for the “game within the game” that Sorare provides. We’re pleased to be joining them on this journey and are really excited to see what the company will achieve in its next phase of growth.”