October 18 – Tifosy, the sports crowdfunding platform that enables supporters to invest in clubs, has raised £1 million via crowdfunding for its own rights issue.
Tifosy has had more than 10,000 investors through its platform and raised funds for more than 15 clubs in England and Italy.
The £1 million Tifosy has raised will be used to find its expansion into “France, Germany and other European markets and will then explore opportunities in China and the US,” said a press release.
Co-founded by former player and manager Gianluca Vialli and former investment banker Fausto Zanetton, Tifosy has issued 4,000 4, new shares at £250 per share, which represents 9.8% of the company’s outstanding share capital. The pre-money valuation immediately prior to the offer is £9,206,250.
Tifosy’s mission is to connect clubs with a new category of fan investors. In August it launched English football’s first mini-bond which raised £600,000 in just six weeks for EFL League Two club Stevenage FC to build a new North Stand. Two hundred and forty fans invested between £500 and £25,000, choosing either 4% cash interest or 8% club credit interest per annum and receiving unique club-related privileges.
Next month it is due to launch a €1 million mini-bond for the Italian Serie B club Frosinone.
The company says “it plans to launch equity-based campaigns, giving supporters the chance to buy shares in their favourite clubs and providing clubs with a one-stop service, guiding them professionally through the capital raise.”
Zanetton said: “We believe this pivotal moment in Tifosy’s short history is an excellent opportunity to bring on board the first wave of our very own Fanfunders. We have been developing relationships with clubs for the last three years and are having conversations with major sports clubs in England, Italy and other European markets.
“Our proposition is proving incredibly popular because we understand the challenges facing sports clubs operating in a fiercely competitive marketplace. We can provide them with new sources of funding by connecting them with their fanbase, domestically and internationally, deepening the engagement with supporters and allowing them to invest in their club’s future”.
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