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MyTeam, the Greek startup for sports clubs, is raising up to €2M to digitize teams and enhance the overall experience for athletes, coaches, and managers.
MyTeam’s round is led by Eleven Ventures and Genesis Ventures.
- The startup is raising 200,000 via SeedBlink, an investment platform for European tech startups.
Sofia, July 10, 2024: MyTeam, a Greek Enterprise SaaS startup for sports clubs, announces a €2 million seed round led by Eleven Ventures and Genesis Ventures. Founded by Dimitris Sereleas and George Malamatlis, MyTeam helps sports clubs and academies optimize their daily operations. The platform assists in financial management by offering real-time balance sheets, easy money collection for memberships, products, and fundraising, and simplifies communication with the sports club’s members.
The €2 million seed round is led by Eleven Ventures, a Bulgarian VC firm known for investing in Payhawk, Dronamics, and Quantive, along with Genesis Ventures, a Greek early-stage startup fund established in 2021, which has invested in Protio and Feel Therapeutics. Additionally, Lars Rasmussen, the founder of Google Maps, is participating as an angel investor in both the previous and current rounds.
Investors and business angels can participate in the funding round through SeedBlink, the European all-in-one investment platform, starting with a minimum investment of €2,500.
"MyTeam emerges as a game-changer in sports club management with its innovative B2B2C SaaS ecosystem. By integrating technology into the heart of sports clubs and academies, it simplifies operations and empowers users and administrative staff to efficiently plan, communicate and transact, ushering in a new era of sports management. The fintech component here is crucial, yet it goes beyond mere functionality. It puts parents in control, while providing sports clubs with cash predictability and improved money collection. Initially conceived as a sportstech startup, myTeam now digitizes an entire industry, offering seamless user journeys for all stakeholders through the Fintech integrations." Said Daniel Tomov, Managing Partner, Eleven Ventures.
In just 10 months, MyTeam has achieved significant growth, expanding from 36 to 240 paid clients, helping over 240 active clubs and 90,000 user profiles. With operations in Greece, Cyprus, and Germany and plans to expand to the UK and Spain in 2024, active lead generation and product demos are, ready and underway in both markets.
“_Specifically, we've introduced club donation processing and subscription management solutions, thanks to fintech partners. This has diversified our revenue beyond just subscription fees for the usage of the platform. These new digital financial products are increasing not only revenues for myTeam but more importantly those of sports clubs, as well._” Dimitris Sereleas, Co-founder and CEO of myTeam.
The funds will be allocated to several key areas to ensure comprehensive growth and development. Specifically, 15% of the funds will be dedicated to marketing efforts to increase visibility and attract more users. A substantial 70% will be invested in product development and team growth, which includes enhancing the platform's features, improving user experience, and expanding the team to support these advancements. Finally, the remaining 15% will be used for administrative spending to cover essential operational costs and ensure the smooth functioning of the organization.
"Having our seat at the table next to Eleven Ventures and Genesis Ventures, two longstanding partners of ours, is a testament to the potential we see in MyTeam. Sports clubs are everywhere, and their digitalization, especially looking at the financial management side of things, is key to thrive. The market for MyTeam generous to say the least," said Angel Hadjiev, SEE Regional Manager at SeedBlink.
For more information, contact:
Bianca Iulia Simion, Head of Communications at SeedBlink – mailto:press@seedblink.com
About MyTeam
MyTeam was launched in 2022 by Dimitris Sereleas (Co-founder and CEO) and George Malamatlis (Co-founder and CPO). MyTeam is a leading sports club management platform designed to digitize teams and enhance the overall experience for athletes, coaches, and managers. Its mission is to save time for operations and administrators while providing stakeholders with easy and fast access to all the information they need. This focus allows them to concentrate on what matters most: improving their teams and athletes.
About SeedBlink
SeedBlink is the all-in-one equity and investment platform that provides the infrastructure, financial services and network coverage for European tech companies and their stakeholders to access, manage and trade equity at every stage of growth.
With a comprehensive suite of products and services, SeedBlink streamlines investment processes and provides robust support throughout the equity lifecycle, from initial funding rounds through to mature investment opportunities and secondary markets.
More information at www.seedblink.com
PublishedJuly 10, 2024
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