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ASX Sports Taps Crowdfunding For Expansion Capital

ASX Sports Taps Crowdfunding For Expansion Capital

ASX Sports

10 September 2022, 06:00:00

Fantasy sports startup ASX Sports has launched a €750,000 crowdfunding round with Spark Crowdfuding.

Fantasy sports startup ASX Sports has launched a €750,000 crowdfunding round with Spark Crowdfuding.


The company, co-founded by Paddy Power — the man, not the bookies chain — has also introduced new peer-to-peer contests, making it the first fantasy sports platform in the world to have fan contests running live during games.


And it will enable sporting celebrities, e-sports gamers and social media influencers to “monetise” their followers and streamers on the gaming platform.


Power said: “The launch of peer-to-peer games on ASX demonstrates our dedication to driving innovation in the fantasy sports market. It comes at a time when our beta app has been installed more than 20,000 times, with more than 30,000 contest entries in ten of the biggest sporting leagues and competitions in the world including the NFL, NBA, EPL, MLB and the Six Nations.

“In addition, our app has been ranked in the top 100 sports apps in 11 different countries now, including the United States, Ireland, and South Africa.  On top of this, SportsPro Media named ASX among the 20 sports tech startups to invest in for 2022.”


Last year, ASX raised €2.2m using the equity crowdfunding platform.


With equity crowdfunding, small to medium investors can invest anything from €100 upwards in a company in return for shares. It operates in much the same way as Dragons’ Den, where companies pitch for investment and the ‘crowd’ decides if it wishes to invest or not.

ASX SPorts CrowdfundingFANTASY SPORTS STARTUP ASX SPORTS HAS LAUNCHED A €750,000 CROWDFUNDING ROUND WITH SPARK CROWDFUDING.

Dublin-based Spark Crowfunding has c.9,500 investors on its database and has raised funds for 28 Irish start-ups over the last three years.


ASX Sports recently rolled out real money cash games in the US market, allowing residents of 23 states to stake dollars in paid games, for cash prizes. And there will be more.


Power commented: “The launch of our 'Stocks for Sports' Index games for NFL, Premier League, and Rugby in Q3 will provide real growth in our revenue and position ASX Sports for a major fundraising exercise in the coming months.”


Source: BusinessPlus.ie