Mumbai-based Fanspole raises pre-seed funding of an undisclosed amount in a round led by Better Capital, and it has launched a fantasy sports app where users can create contests to play with others.
As per a report in The Economics Times, the funds raised in this funding round will be used to further develop the platform’s product and for their marketing.
Fanspole app is free to use and allows players to create contests with their own set of rules to play with friends and family, fans, followers, and other players. This engaging app aims to enable engagement among friends, colleagues, classmates, and influencers and their fans.
Contest creators can select the entry fee, member limit, prize structure, and prize type for their contests. The contest can be shared with others through Whatsapp and other channels. Once a player starts creating a good contest, they can start earning a percentage commission, as per the platform’s website. One can follow people and participate in contests that show up in their feed. Players also win points based on their performance and win prizes.
To run a paid contest on the Fanspole app, the users pay a small fee to the platform, but still have full control over the contest rules and style.
Currently, the fantasy platform hosts sports and esports like cricket, football, PubG, Call of Duty, and Free Fire. They will soon launch more games.
Aniket Shinde, Co-founder & CEO of Fanspole, said in a statement,“India has a market of 300Mn+ sports viewers in India and we consider each viewer as a potential fan. We are truly excited to create a holistic e-gaming platform and create a holistic online community for our fantasy gamers.”
Fanspole was founded in 2015 by college friends Aniket Shinde and Hardik Gondaliya. Both of them bring in a lot of product and engineering experience with startups that have amassed a user base of over 1 million.
As per a Your Story report, while commenting on the pre-seed funding, Vaibhav Domkundwar of Better Capital, said, "Engagement around sports, as well as e-sports, happens when users go beyond “watching,” and the Fanspole fantasy contests platform is exactly what was missing. The instant adoption Fanspole has seen purely based on word of mouth is a great indication of the gap in fantasy sports in India. The “play together” with friends and people you know is very powerful, and I am excited to be partnering with the Fanspole team."
Stay tuned for more news on fantasy sports in India.