Paris-based startup Sorare received $3.6 million investment from Gerard Piqué
According to the company`s press release, football superstar Gerard Piqué and ex Coca-Cola VP Emmanuel Seugé through his fund Cassius Family have invested $3.6 million in Sorare as a seed extension. Also, Gerard Piqué will join Sorare’s board as a Strategic Advisor. Into account, Sorare is funded by VCs such as e.ventures, Partech, and Cassius.
Founded in 2018 by Nicolas Julia and Adrien Montfort, Sorare is a global fantasy football game where managers can trade official digital cards. The company is aimed to unlock people’s football fandom online. Since opening its beta in December 2019, Sorare’s game has attracted 55,000+ users with a monthly card sales volume of over $1.4 million in November 2020.
Sorare’s current total addressable market is at the intersection of fantasy football and sports cards and memorabilia that is respectively estimated at $5.4B and $18.6B globally. After having acquired more than 50,000 users in 2020, Sorare is expecting to see these numbers more than triple next year.
Gerard Piqué said: “I see a huge potential in the sports gaming segment in a digital economy where the attention of audiences is the single most important unit of currency. I’m looking forward to helping Sorare expand their partnerships with football leagues, clubs, and players worldwide to build the best fantasy experience that exists.”