Digital sponsorship marketplace Sponsoo closes Series A funding round | Sponsoo

Press Release

Digital sponsorship marketplace Sponsoo closes Series A funding round

Hamburg, 19.11.2020

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The Hamburg sports startup Sponsoo has successfully completed its Series A funding round. The “Corona Recovery Fund” from Hamburg-based IFB Innovationsstarter GmbH and many other well-known faces are among the investors.

Great success for Sponsoo: Despite the tense economic situation in the sports business, the Hamburg startup has completed its Series A funding round. The total volume of all new investments since the last official round is around 1.4 million euros.

The financing round is led by "European Business Angel of the Year 2017" Andreas Mihalovits, who had already invested in Sponsoo's seed round. In addition to the present shareholders such as BMW's "Head of Global Sponsorship" Thorsten Mattig, new investors such as the European Super Angels Club, VC investor Claas Nieraad, the VR Bank Nord and the "Corona Recovery Fund" of the IFB Innovationsstarter Hamburg have also invested.

As Europe's largest digital marketplace for sports sponsoring, Sponsoo supports more than 10,000 athletes, clubs, sports events and associations, as well as more than 1,000 sponsors in the conclusion and management of sponsorships.

According to CTO Christian Kaspar, the sponsors benefit from the size of the portfolio: “Nowhere else will you find a wider selection of sponsoring opportunities. By analyzing countless data points, we help to identify exactly the sponsoring’s that perfectly fit into the respective marketing strategy. All athletes in our database are rated by the same objective criteria. Regardless of whether it is a village club, a Bundesliga club, eSports teams, amateur athletes, sports influencers or Olympic champions - in the end the data is decisive. We want to use the funds from the financing round to further expand this advantage."

The investments will also create at least ten new jobs and one apprenticeship position in Hamburg and Ljubljana. According to CEO Andreas Kitzing, applicants with experience and an existing network in sponsorship marketing have promising chances.

In the future, Sponsoo will put much more emphasis on internationalization. “Among the most recently completed sponsorships, there are athletes and clubs from Great Britain, Italy, France, Denmark and even Kenya,” said Kitzing. "We are also growing strongly in the DACH region, but by opening up further international markets we are multiplying Sponsoo's growth potential."

Oke Hansen,  Geschäftsführer der VR Projektverwaltung, und Andreas Kitzing, unterschreiben im Sommer 2020 den Investmentvertrag.

Oke Hansen, Managing Director of VR Projektverwaltung GmbH and Andreas Kitzing, signing the investment contract in summer 2020. Photo: Sponsoo

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