NFT platform Sorare has raised $680m at $4.3bn valuation

NFT platform Sorare has raised $680m at $4.3bn valuation

French NFT fantasy football platform Sorare has completed a $680m Series B funding round, led by Japanese holding company SoftBank.

French NFT fantasy football platform Sorare has completed a $680m Series B funding round, led by Japanese holding company SoftBank.

Sorare's valuation was $4.3bn at the end of the round.

Investors included Accel, Benchmark, Headline, Atomico, D1 Capital, Bessemer Ventures, Eurazeo, IVP, Hillhouse and Liontree as well as professional footballers Gerard Pique, Antoine Griezmann, Rio Ferdinand and Cesar Aspilicueta.

The company will use the proceeds to open an office in the US, expand into new sports and create a mobile app.

Sorare was founded in 2018. The platform allows the purchase, sale and exchange of NFT player cards from the world's leading football clubs. The tokens are also used in virtual prize tournaments.

Among Sorare's 175 partner clubs are France's Paris Saint-Germain, Italy's Juventus, Spain's Barcelona and Russia's Spartak and Zenit.

According to the company, there are more than 600,000 registered users on the platform. Since the beginning of 2021, its trading volume has totalled more than $150m.

Recall that Sorare completed a $50m Series A funding round in February, led by venture capital fund Benchmark.

In March, the developers of the NFT platform NBA Top Shot raised $305 million from basketball legend Michael Jordan, as well as venture capital firms Coatue and Andreessen Horowitz.

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