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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.
Digital soccer collectibles platform Sorare is expected to announce that it will receive $532 million in funding, according to a Business Insider report Wednesday.
STORY CONTINUES BELOW
- 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.”
Read more: Benchmark Leads $50M Round for Digital Soccer Collectibles Platform Sorare
James Rubin
James Rubin was CoinDesk's Co-Managing Editor, Markets team based on the West Coast. He has written and edited for the Milken Institute, TheStreet.com and the Economist Intelligence Unit, among other organizations. He is also the co-author of the Urban Cyclist's Survival Guide. He owns a small amount of bitcoin.
