Paris-based Fungiball, a fantasy tennis platform, announced on Wednesday that it has secured €2.2M in a PreSeed funding round.
The investment was backed by a combination of private business angels including Adrien Dassault and Stephan Altmuller, with additional support from Cliff Capital and BPI France.
Expanding to North America, Europe, Asia
The funds will be used to grow the tech team to scale the platform and enhance user experience, develop new features, including free-to-play modes and fiat payment options, and kick off Fungiball’s international expansion, starting with a focus on North America.
Explaining the company’s expansion strategy further to Silicon Canals, Jean Matias CEO and founder, says “We’re very excited about expanding into regions where tennis has a deep fan base, such as Europe and Asia. Europe, being home to major tennis tournaments and passionate fan communities, is a natural next step for us.”
“In Asia, tennis is growing rapidly in countries like Japan, China, and India, with a strong appetite for digital engagement and fantasy sports. These markets offer tremendous opportunities for us to connect with new fans and build partnerships with local tennis organisations,” he adds.
Ropes in Medvedev and Zverev as ambassadors
Besides funding, the French company also announced the appointment of two tennis superstars — Daniil Medvedev and Alexander Zverev, as official ambassadors.
“I’m really excited to endorse Fungiball”, shares professional tennis player Daniil Medvedev. “I love the concept behind the platform, which brings fresh energy and innovation to tennis and also offers young tennis players an opportunity to earn additional revenues with this model.”
Aims to bring more excitement and engagement to Tennis
Founded by Jean Matias, Fungiball Tennis offers fans a unique way to engage with their favorite players while providing new revenue streams for tennis professionals.
“The inspiration behind Fungiball came from a desire to bring more excitement and engagement to tennis, a sport that hasn’t traditionally seen the same level of fantasy gaming integration as others like football or basketball. Tennis fans are incredibly passionate, but they often lack ways to deeply engage with the sport beyond watching matches.”
“Fungiball solves this by giving fans an interactive, immersive experience where they can build their dream teams, trade players, and earn rewards. We’re also addressing a key issue for tennis players themselves—creating new revenue streams outside of prize money, which is particularly beneficial for up-and-coming players.”
Creating an immersive experience is challenging
According to Matias, creating a fantasy sports platform for tennis presents unique challenges compared to team sports.
“Tennis is an individual sport with a global calendar, so balancing different time zones, match schedules, and player data was technically complex,” says Matias. “Creating the best immersive experience was one of our main challenges, we created a model where you can become a virtual tennis player.”
The company recently entered a multi-year partnership with Winners Alliance, the commercial affiliate of the Professional Tennis Players Association (PTPA), securing the rights to feature the names, images, and likenesses of over 300 top tennis players.
“Establishing those partnerships and obtaining licensing from players and tennis bodies was crucial to our success but required time and careful negotiation,” he says.
The French company says it has also closed a partnership with France’s iconic Le Coq Sportif sports retailer in May of this year.
Revenue model Auctions and a secondary trading market
Fungiball sells player cards through auctions and provides a secondary trading market where users can exchange cards, creating additional revenue streams for the company.
However, in exchange for their rights, featured players benefit from incremental revenue-generating opportunities and increased visibility and fan engagement.
“Fungiball’s revenue model is designed to benefit both top-tier and rising players by offering equitable opportunities for financial gain. For instance, players who perform well in real-life tournaments or who have growing fan bases can see increased card values and demand. This way, both established stars and emerging talent have opportunities to earn based on their performance and popularity. Also, we are the first platform ever that proposes this kind of revenue for all those players,” explains Matias.
Collaboration with local tennis clubs, amateur tournaments, and junior tennis programs
According to the company’s claims, since its official launch in January 2024, it has attracted over 5,000 registered users.
On planning to engage with grassroots tennis players and communities, Matias adds, “We recognise that tennis has a rich grassroots community, and engaging with these players is essential to our growth. We plan to collaborate with local tennis clubs, amateur tournaments, and junior tennis programs to introduce Fungiball as a tool for these players to connect with the professional side of the sport.”
“By creating community-focused events and offering special access to the platform, we aim to empower grassroots players to experience the fantasy side of tennis while also gaining exposure to pro-level content and opportunities,” he concludes.
Moving forward, the company aims to create an authentic experience for fans, from in-person meetings with their tennis idols to VIP seats at tennis tournaments.
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