Hamburg, 28.01.2021Share Tweet
Now the founders want to use fresh capital to push ahead with global expansion
(Hamburg, January 2021) Successful start into the year for Sponsoo: The European Super Angels Club (ESAC) has increased its investment in the digital marketplace for sports sponsorship. The investment is a strong commitment to the company's growth path.
After successfully closing its Series A financing round in summer 2020, Hamburg-based sports startup Sponsoo has now received a top-up. The European Super Angels Club around President Berthold Baurek-Karlic, which had already invested in Sponsoo's Series A financing round, is increasing its stake in the company and investing another six-figure amount in the startup. With the second closing, Sponsoo can open up new markets even faster and will, for example, expand its commitment in Spain.
In order to remain able to act in Corona times, Sponsoo adjusted almost all areas of the company within two weeks at the beginning of 2020 and placed the sales focus on areas of sports sponsorship that also work well from the Covid-19-related lockdown, such as sports influencer marketing. The measures have helped the Hamburg-based startup continue to grow revenue in 2020 despite the tight sports industry, with a particularly strong fourth quarter.
"Sponsoo was a finalist in the Sportstech Awards at ESAC 2019, and the Hamburg-based startup appealed to our team right from the start. Sponsoo solves an important problem for large and small clubs, as well as individual athletes across Europe. Corona has put additional pressure on the sport. Sponsors have not had an online platform to sign contracts, but the pandemic has encouraged digitalization in this market as well. Sponsoo has seized this opportunity perfectly and gained important market share. Increasing our investment and giving the founders more financial leeway for their plans to expand their marketplace was a logical consequence", explains Berthold Baurek-Karlic, President of ESAC and Managing Partner of Venionaire Capital.
Sponsoo intends to invest the majority of the proceeds from the capital increase in further development and growth. This year, Sponsoo will focus much more on internationalization. "Everyone is feeling the impact of the Corona pandemic in different ways right now. We are all struggling with limitation. Sport acts as a beacon of hope and a "mood booster" during the Corona crisis. It represents a healthy lifestyle and gives people courage during this difficult time. Sponsorship in sports is therefore uniquely linked to emotion. We are now looking forward to driving the internationalization and expansion of our platform with even more power internationally," explains Sponsoo CEO Andreas Kitzing.
Sponsoo founders Andreas Kitzing, CEO, and Christian Kaspar, CTO, are pleased to be able to tackle Sponsoo's developments with even more power this year due to the fresh capital.