Fungiball Lands €2.2M Pre-Seed Investment to Expand Fantasy Tennis Platform

Fungiball, a groundbreaking digital platform designed to transform tennis engagement, has successfully raised €2.2 million in pre-seed funding from a mix of private business angels, including Adrien Dassault and Stephan Altmuller, as well as additional support from Cliff Capital and BPI France. This funding round will play a crucial role in scaling Fungiball’s operations, enhancing the user experience, and driving the platform’s international expansion, starting with a strategic focus on North America.

The funds will be utilized to grow Fungiball's tech team, which is essential for scaling the platform and ensuring a seamless user experience. Additionally, the startup plans to develop new features such as free-to-play modes and fiat payment options, making it more accessible to a broader audience. This aligns with Fungiball's overarching goal to establish itself as the leading digital tennis platform, offering a range of functionalities from gameplay and fan engagement to content consumption, all while creating new revenue streams for professional tennis players.

Jean Matias, Co-Founder and CEO of Fungiball, emphasized the ambition behind the project, stating, “We’re just getting started. Our vision is to become the leading digital tennis platform, offering everything from gameplay and fan engagement to content consumption, and a new revenue stream for professional tennis players.” He noted that this funding round would sustain Fungiball's growth and accelerate its geographic expansion, in addition to expanding the team.

Since its official launch in January 2024, Fungiball has already registered over 5,000 users and built a thriving community of tennis fans and fantasy sports enthusiasts. The platform is well-positioned to capture a larger audience in the coming months, especially considering the global tennis industry’s valuation of over $6 billion and the projected growth of the tennis equipment market, expected to reach $7.5 billion by 2025.

Fungiball’s innovative revenue model revolves around the sale of player cards through auctions and a secondary trading market where users can exchange cards. This unique approach not only generates additional revenue for the company but also provides a novel financial avenue for tennis players, allowing them to benefit from their participation on the platform. Fungiball’s vision for blending technology with tennis positions it as a leader in the Sportstech sector.

Adding to its credibility and visibility, Fungiball has secured partnerships with two tennis superstars, Daniil Medvedev and Alexander Zverev, who have come on board as official ambassadors. Their involvement is expected to significantly elevate Fungiball’s profile within the sports community and contribute to its ongoing success. Medvedev expressed enthusiasm for the platform, stating, “I love the concept behind the platform, which brings a fresh energy and innovation to tennis and also offers young tennis players an opportunity to earn additional revenues with this model.”

Both Medvedev and Zverev are not merely lending their names; they are actively engaged in shaping the platform’s future. CEO Matias remarked, “They’re not just lending their names—they’re deeply involved in helping us shape the future of the sport. Their endorsement gives us unparalleled credibility in the tennis world and helps us build important relationships with tournaments and brands.”

Fungiball’s plans extend beyond just enhancing the platform. Under the leadership of CTO Romain Boudré, the startup is in advanced discussions with major tennis organizations. The team is also preparing to launch new competitions featuring larger prize pools to reward its growing community. Upcoming enhancements, such as free-to-play modes and integration with Stripe for easier payment processing, aim to broaden user participation, irrespective of geographic constraints.

Furthermore, Fungiball aspires to create authentic experiences for fans, from personal interactions with their tennis idols to VIP access at tournaments, effectively merging digital engagement with real-world experiences. The platform has recently entered into a multi-year partnership with the Winners Alliance, the commercial affiliate of the Professional Tennis Players Association (PTPA), allowing Fungiball to feature the names, images, and likenesses of over 300 top tennis players. This partnership not only enhances the platform’s content but also provides incremental revenue opportunities and increased visibility for featured players.

In May, Fungiball secured a partnership with Le Coq Sportif, a renowned sports retailer in France, further solidifying its presence in the market. With these strategic initiatives and investments, Fungiball is poised to reshape the landscape of digital tennis engagement, setting the stage for a bright future in the sport.