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