Germany's OneFootball raises $300 million from investors

STOCKHOLM : OneFootball has raised $300 million from investors to help fund product development and expand its streaming services as the German football-focused media firm seeks to challenge established TV sports channels.

The funding round drew investors such as Liberty City Ventures, Animoca Brands, Quiet Capital, RIT Capital Partners and Dapper Labs.

The latest round values the company at over $1 billion, according to a source familiar with the matter.

The company, which has more than 100 million monthly active users, offers free and pay-per-view live streamed football matches from hundreds of competitions such as Bundesliga and Scottish Premiership.

OneFootball plans to help the football industry release digital assets and fan-centric experiences based on blockchain technology, founder and CEO Lucas von Cranachtold Reuters.

While competing with pay TV providers, sports streaming companies are also exploring new technologies such as blockchain and non-fungible tokens (NFTs).

In February, British sports media company DAZN Group received a $4.3 billion capital injection its backer to expand into betting, gaming and NFTs.