Several business angels and shareholders in the Hamburg-based Sponsoo have invested a six-figure sum in the company that “is filling a gap in a growing market,“ according to Handelsblatt. The online platform links up sports people with sponsors and is now aiming to go digital, according to a press release in December.
Head of BMW’s sport marketing joins
Apart from existing shareholders such as Jung von Matt/SPORTS, four business angels have joined among them Andreas Mihalovits who is investing the greatest share as well as Dr. Kai Scharff, a member of the board at FC St. Pauli, Silicon Valley investor Samuel Harrison and Thorsten Mattig, Head of Sports Marketing at BMW. Harrison and Mattig have also joined Sponsoo’s advisory board.
Network and knowledge
Andreas Kitzing, Managing Director of Sponsoo, said: “We are delighted to have obtained such high-calibre investors for our next round of financing. Thanks to our co-operation with Jung von Matt/SPORTS, we learnt early to value shareholders who contribute their networks and knowledge. We can now expand our network with the new shareholders and grow faster.“
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 clubs’ magazines. 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.
The second round of financing will boost the technological development of the platform and prepare Sponsoo for international expansion. The cash injection will also allow the company to hire more sales staff in Hamburg and developers in the Slovenian subsidiary.
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