Sorare Revenue, Valuation, Funding & Investors
Sorare is valued at $4.3B as of September 2021, a 28.7x multiple on its last reported $150M revenue.
Last Sorare valuation
$4.3B
Series B · Sep 2021
Last Sorare funding round
Undisclosed stage
Amount undisclosed · Sep 2026
Sorare revenue
$150M
Series B · Sep 2021
Key investors in Sorare
Accel
Headline
SoftBank Group
Seedcamp
Partech
Benchmark
About Sorare
Sorare is a Paris-headquartered fantasy soccer platform using NFT collectible cards licensed from clubs like Manchester United, Bayern Munich, and FC Barcelona. Players build teams from over 300 clubs across 20 leagues to compete in weekly tournaments with Ethereum rewards. Founded in 2018, Sorare generated $1.8 million in card sales during December 2020 and expanded to MLB and NBA in 2022. The platform hosts 200,000 monthly active users globally.
Founded
2018
HQ
ParisWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Revenue
$150M (Sep 2021)
Valuation
$4.3B (Sep 2021)
Sorare Valuation
Sorare is currently valued at $4.3B, based on its Series B in September 2021.
The $680M round was led by SoftBank Group.
Sorare valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series B | $4.3B | 28.7x |
Sorare Revenue
Sorare's latest recorded revenue is $150M, as of its Series B in September 2021. At a $4.3B valuation, that implies a 28.7x revenue multiple.
Sorare revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2021 | $150M | $4.3B | 28.7x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Sorare Funding History
Sorare has raised a total of $739M across 5 funding rounds.
Sorare's first fundraising round was a $600K pre-seed round in May 2019. The most recent completed round was a undisclosed-stage round in September 2026.
Sorare funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Undisclosed stage | Benchmark Electronics; Partech; Kibo Ventures; Accel | - | - | Sorare raised a new funding round in September 2026 backed by Benchmark, Accel, Partech, and Kibo Ventures, with founders also investing personally. The company described the financing as an eight-figure round, and the first tranche was completed with a second tranche expected in the following weeks or months; the stated purpose was to secure treasury and support the company’s next phase of execution. The round came from Sorare’s long-time investors rather than new institutional backers, and it was framed as a renewal of long-term conviction. The company indicated that the financing was tied to near-term product and commercial milestones, including new card releases, an Arcade Set launch, the NBA’s return in October, and the upcoming Snatch product, while also supporting a longer path toward profitability by the end of 2027. Sorare is a French fantasy sports and digital collectibles platform that has partnered with more than 100 football clubs, issued more than 100,000 cards, and reported more than 15,000 managers trading cards for more than $20 million in primary and secondary market value. |
| Sep 2021 | Series B | SoftBank Group (lead) | $680M | $4.3B | Sorare is a French blockchain-based fantasy sports platform founded in 2018 that allows users to buy, sell, and trade NFT player cards from leading football clubs in virtual tournaments. The company completed a record $680 million Series B funding round on September 21, 2021, led by SoftBank's Vision Fund 2 and Latin America Fund, valuing Sorare at $4.3 billion post-money and marking the largest Series B in Europe and French tech history. Other investors included Accel, Benchmark, Headline, Atomico, D1 Capital, Bessemer Ventures, Eurazeo, IVP, Hillhouse, Liontree, and footballers like Gerard Piqué, Antoine Griezmann, and Rio Ferdinand. By the round date, Sorare had achieved $150 million in revenues year-to-date 2021, according to CEO Nicolas Julia, amid an NFT boom, with over 600,000 registered users and trading volume exceeding $150 million since the start of 2021. The platform partnered with 175-180 football clubs including Paris Saint-Germain, Juventus, Barcelona, Real Madrid, Arsenal, Borussia Dortmund, and recently La Liga, creating a strong moat through official licensing. This followed a $50 million Series A in February 2021 led by Benchmark. Funds from the round were allocated to open a U.S. office, expand into new sports beyond football, develop a mobile app, hire talent, invest in marketing, and secure additional league partnerships like potentially the EPL and top 20 global football leagues. Sorare positioned itself to bring NFTs to mainstream sports fans, drawing parallels to NBA Top Shot's success. One source mentioned a $3.8 billion valuation, but the majority including press releases and TechCrunch confirm $4.3 billion. |
| Feb 2021 | Series A | Benchmark (lead); Ambel; Go4it Capital; Archimedia; Gary Vaynerchuk; Hedosophia; Rio Ferdinand; Alexis Ohanian; Accel; Headline; Antoine Griezmann | $48M | - | Sorare is a fantasy sports platform built on blockchain where users collect, trade, and manage digital cards of professional football players, with cards minted as non-fungible tokens on Ethereum. The platform generated revenue primarily through primary market card sales, with plans to eventually monetize secondary market transactions. In February 2021, Sorare raised $50 million in its Series A funding round led by Benchmark, with participation from notable investors including Accel, Reddit co-founder Alexis Ohanian, entrepreneur Gary Vaynerchuk, footballer Antoine Griezmann, and others. The round was used to accelerate hiring, onboard top football leagues, and launch a mobile application. At the time of the February 2021 Series A, the company's post-money valuation was not publicly disclosed. The platform demonstrated rapid growth during this period, with trading volume increasing from approximately $60,000 in January 2020 to $4.2 million in January 2021, and reaching over $13 million by February 2021, alongside user growth from 55,000 to 80,000 users. By September 2021, just seven months after the Series A, Sorare completed its Series B at a $4.3 billion valuation after raising $680 million led by SoftBank, indicating the company's dramatic valuation increase during this period. At the time of the Series B announcement in April 2022, annualized revenues were reported at approximately €240 million, implying a roughly 15x revenue multiple on the Series B valuation. |
| Jul 2020 | Seed | Headline (lead) | $10M | - | Sorare raised $10 million in a seed round in July 2020 led by Headline, with participation from investors including Semantic Ventures, Presight Capital, MPGI, and Cygni Capital. The funding supported team expansion and platform enhancements for its blockchain-based fantasy football game using NFTs. This followed a pre-seed round of $550,000 in May 2019 led by Kima Ventures and Seedcamp to develop the initial platform. Sorare's platform features digital collectible cards of football players as NFTs on the Ethereum blockchain, allowing users to buy, sell, and use them in fantasy games. Partnerships with football clubs provided official cards, driving platform growth with 120 clubs releasing digital cards by the seed round close. Gerard Piqué served as a strategic advisor, highlighting the game's real-world impact in connecting fans with clubs and leagues. Subsequent rounds included a $50 million Series A in February 2021 led by Benchmark and a $680 million Series B in September 2021 led by SoftBank's Vision Fund 2 at a $4.3 billion valuation, bringing total funding to approximately $740 million. |
| May 2019 | Pre-seed | Kima Ventures (lead); Seedcamp (lead); Tiny Supercomputer Investment Company; Thomas France; Bouaziz & Partners; Baptiste Hamel; Chris Hitchen; ConsenSys Mesh | $600K | - | - |
Who has invested in Sorare?
23 investors have backed Sorare across its funding rounds, including Accel, Headline, SoftBank Group, Seedcamp, Partech and Benchmark.
Lead investors include SoftBank Group, Benchmark, Headline, Kima Ventures and Seedcamp.
Sorare Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Palo Alto, CA | 2 | Participant | Feb 2021 | |
| San Francisco, CA | 2 | Lead | Jul 2020 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Ambel |  Antwerp | 1 | Participant | Feb 2021 |
 London | 1 | Participant | May 2019 | |
| Thomas France | San Francisco, CA | 1 | Participant | May 2019 |
 São Paulo | 1 | Participant | Feb 2021 | |
| London | 1 | Participant | Feb 2021 | |
 Tokyo | 1 | Lead | Sep 2021 | |
| Paris | 1 | Participant | May 2019 | |
| Houston, TX | 1 | Participant | Sep 2026 | |
| Paris | 1 | Participant | Sep 2026 | |
| San Francisco, CA | 1 | Lead | Feb 2021 | |
| London | 1 | Lead | May 2019 | |
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Start Free TrialSorare Competitors
Sorare competitors include listed companies like Bullish and Sharplink, and private ones like Labs, Dapper Labs, Anchorage Digital and BlockFi.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Los Angeles, CA | Private | - | - | $10B | - | |
 Vancouver | Private | - | - | $7.6B | - | |
| San Francisco, CA | Private | $85M | - | $4.2B | 49.4x | |
| Jersey City, NJ | Private | $50M | - | $4.5B | 90.0x | |
| United States | Publicly listed | $245B | ($727M) | $5.3B | 13.5x | |
| United States | Publicly listed | $28M | ($734M) | $1.8B | 39.9x |
Sorare Public Comps
Sorare is still privately-owned, but its public comps include Galaxy Digital, Kingsoft, Talkweb Information Systems, JOYY, G-bits, Koei Tecmo, Kingnet Network, Bullish, Hyperliquid Strategies and NCsoft.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $60B | ($177M) | 0.1x | 0.2x | (43.3x) | (182.6x) | |||
| $1.4B | $441M | 1.0x | 0.9x | 3.2x | 5.0x | |||
| $473M | $27M | 9.7x | - | 168.4x | - | |||
| $2.1B | $160M | 1.2x | 1.1x | 16.3x | 11.2x | |||
| $925M | $371M | 3.3x | 3.1x | 8.3x | 8.1x | |||
| $568M | $300M | 5.3x | 5.4x | 10.0x | 12.5x | |||
| $794M | $299M | 5.5x | 3.9x | 14.7x | 10.8x | |||
| $245B | ($727M) | 0.0x | 13.5x | (6.3x) | 38.2x | |||
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Common questions about Sorare
| When was Sorare founded? | Sorare was founded in 2018. |
| Where is Sorare headquartered? | Sorare is headquartered in Paris, France. |
| Is Sorare publicly listed? | No, Sorare is a private, VC-backed company. |
| What is Sorare's valuation? | Sorare was last valued at $4.3B in its Series B in September 2021. |
| How much funding has Sorare raised? | Sorare has raised $739M across 5 funding rounds. |
| What was Sorare's last funding round? | Sorare's last funding round was a undisclosed-stage round in September 2026. |
| Who are Sorare's investors? | Sorare's investors include Accel, Headline, Ambel, Tiny Supercomputer Investment Company, Thomas France, Go4it Capital, Archimedia, SoftBank Group, Bouaziz & Partners, Benchmark Electronics and 13 others. |
| What is Sorare's revenue? | Sorare's latest recorded revenue is $150M (September 2021). |
| What is Sorare's revenue multiple? | Sorare's latest valuation implies a 28.7x revenue multiple ($4.3B valuation on $150M of revenue). |
| Which companies are comparable to Sorare? | Companies comparable to Sorare include Labs, Dapper Labs, Anchorage Digital, BlockFi, Bullish and Sharplink. |
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