The Hamburg-based Sponsoo start-up has obtained EUR 300,000 in the latest finacing round to expand its sports sponsoring platform, the company announced on August 18th. The cash injection from existing shareholders and four business angels will allow Sponsoo to hire more staff for sales, marketing and programming in Hamburg. Andreas Kitzing, Managing Director, said: “We wish to roll up the sponsoring marketing from the bottom up.” The start-up gives 90,00 sport clubs and 23 million athletes in Germany professional access to the sponsoring market.
Jung von Matt is shareholder and investor
Sponsoo’s investors include the Hamburg-based business angel, Thomas Weiden, the financial experts, Dirk Frohnert and Björn Bauermeister, and the Vienna-based entrepreneur Florian Körner as well as Jung von Matt/sports, a subsidiary of the same-named advertising agency, which is investing as part of “Media und Services for Equity”. Jung von Matt/sports is offering the agency’s services (not cash) which will be settled with receivables for shares.
Athletes, all kinds of sports, associations and clubs across Germany have set up online platforms to attract sponsors. On offer are perimeter ads, jersey sponsoring and placing ads in the club’s magazine. Sponsoo uses sample contracts to help sponsors, suggests where to place the logo, orders jerseys and launches sponsoring campaigns. If a deal is signed, Sponsoo earns a percentage of the sponsoring sum.
Growth is top priority
Kitzing and Béla J. Anda founded Sponsoo in August 2014 and their web page went online the following January. SPEEDUP!, an EU-backed accelerator, offered the duo EUR 5,000 per month in the initial six months which helped them flourish. Another EUR 50,000 in funds followed shortly afterwards. Six months free of rent also saw BETAPITCH Hamburg come aboard in July 2015. Growth not profit is Sponsoo’s top priority for the moment. Kitzing stressed. “All our income is pure investment in the start-up. Growth is our top goal.”