Client News/Details

Snell & Wilmer Advises Sport Fintech Company Fanki as it Secures $6M in Seed Capital

June 12, 2023

SAN DIEGO – Snell & Wilmer advised Fanki (formerly BitSports), a Colombian fintech company focused on providing new alternative income sources for sports teams, leagues, and organizations, as it secures more than $6M in seed capital from U.S. and Colombian venture investment funds. Fanki aims to offer users the possibility of supporting their clubs, with greater participation, interaction, and connection with their favorite teams and athletes while allowing clubs, associations, and athletes to have new revenue channels. Through its app and website, Fanki also aims to enable teams and associations to eliminate the need for intermediaries, thereby reducing both costs and the risk of fraud and errors. In addition, Fanki aims to help generate better payment processing, which decreases transaction time and costs. 

“The sports industry is very basic, unfortunately, we have lagged behind in technological scalability, starting with its ticketing system,” said Tatiana Fontalvo CEO and founder of Fanki in a recent press release. “We aim to elevate the experience of both the fans and the clubs.”

Bardia Moayedi led the Snell & Wilmer team advising Fanki. The diverse team included Sarah Hibbard, Mark Ziemba, Bill Kastin, Bahar Schippel, and Paralegal Scott Drake.

Snell & Wilmer's corporate and securities attorneys have served as counsel to a substantial number of clients ranging from Fortune 100 companies to smaller emerging businesses. Our attorneys have provided sophisticated legal representation to biotech companies, health care and financial institutions, public utilities, homebuilders, transportation companies, restaurant and hospitality providers, athletic complexes, fitness facilities and many other types of businesses. Snell & Wilmer’s venture capital and private equity practice covers multiple aspects of the transactional arena involving public and private companies, including the structuring and execution of majority buyouts and minority investments, acquisitions (including buy- and sell-side deals, as well as negotiated and auction deals), financings (including 144A transactions and PIPEs), going-private transactions, and spin-off transactions. Our venture capital and private equity attorneys advise both domestic and international funds, including venture capital, private equity, hedge, mezzanine, real estate opportunity, fund-of-funds, exchange, and other private investment funds.