This Sorare company profile covers the company's valuation, revenue, funding rounds, investors and history. Sorare works in gaming, with a focus on fantasy sports and digital collectibles. It was founded in 2018 and is headquartered in Paris, Île-de-France, France. Its latest valuation on record is US$4.3 billion (September 2021). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Sep 2021 | Series B | US$680M | US$4.3B post-money | SoftBank Vision Fund 2 (lead); Atomico, Bessemer, D1 Capital, Eurazeo, IVP, LionTree; Benchmark, Accel, Headline, Partech | SportBusiness |
| Feb 2021 | Series A | US$50M | Not disclosed | Benchmark (lead) | Decrypt |
Sorare timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2018 — Sorare is founded in Paris by Nicolas Julia (CEO) and Adrien Montfort.
- Feb 2021 — Series A: US$50M. Investors: Benchmark (lead).
- Sep 2021 — Series B: US$680M, valuing the company at US$4.3B post-money. Investors: SoftBank Vision Fund 2 (lead); Atomico, Bessemer, D1 Capital, Eurazeo, IVP, LionTree; Benchmark, Accel, Headline, Partech.
Investors
Overview
Sorare is a fantasy sports game in which players collect digital cards representing real athletes, build teams and compete in weekly competitions based on those athletes' real-world performances. It started with football (soccer), securing licences from hundreds of clubs and leagues, and later added the NBA and MLB. Cards are issued in limited editions, and rarer cards can be traded between users, which made Sorare one of the best-known examples of using blockchain-based digital collectibles, often called NFTs, in sports. In September 2021, at the height of the NFT boom, it raised US$680 million at a US$4.3 billion valuation, then the largest Series B in European history.
Nicolas Julia, the CEO, and Adrien Montfort founded Sorare in Paris in 2018. The founders combined two long-standing fan habits, collecting player cards and playing fantasy sports, into a digital product where ownership of cards was recorded on a blockchain.
Products
- Sorare Football: fantasy football with licensed cards from many leagues and clubs worldwide.
- Sorare NBA: fantasy basketball with NBA and players' association licences.
- Sorare MLB: fantasy baseball with MLB and players' association licences.
- Marketplace: buying and trading cards between users.
- Free-to-play modes: entry-level competitions that let new users play without buying rare cards.
Funding
Sorare raised a US$50 million Series A led by Benchmark in February 2021. In September 2021 it raised a US$680 million Series B led by SoftBank Vision Fund 2, with Atomico, Bessemer, D1 Capital, Eurazeo, IVP and LionTree, existing investors Benchmark, Accel, Headline and Partech, and several football players as angel investors, at a US$4.3 billion post-money valuation. The company said it would sign more leagues, expand into other sports and open a US office. We haven't found a newer priced round; given the steep decline in the NFT market since 2021, the US$4.3 billion valuation should be treated as a historical mark that may substantially overstate its current value.
Business model
Sorare earns revenue mainly from sales of new cards, through auctions and direct sales, and from fees on some marketplace activity. Licensing fees paid to leagues, clubs and players' associations are a significant cost. Its revenue depends heavily on user engagement and on demand for collectible cards, which rose sharply in 2021 and fell as the broader NFT market declined.
Competition
Sorare competes with fantasy sports companies such as DraftKings, FanDuel and Fantasy Premier League (free); with sports collectible platforms such as Panini and Dapper Labs' NBA Top Shot; and with sports video games such as EA Sports FC Ultimate Team. Its advantages are broad licences across sports and a combination of collecting and fantasy competition.
Sorare at a glance
Sorare is a Paris fantasy sports company founded in 2018 by Nicolas Julia and Adrien Montfort. Users collect licensed digital athlete cards and compete based on real performances in football, NBA and MLB. It raised a US$680 million Series B led by SoftBank at a US$4.3 billion valuation in September 2021, near the peak of the NFT market.
Timeline
- 2018: founded in Paris; launches football game.
- February 2021: raises US$50 million led by Benchmark.
- September 2021: raises US$680 million at US$4.3 billion.
- 2022: launches NBA and MLB games.
- 2022–2024: NFT market declines; company cuts costs and adds free-to-play features.
Regulation and gambling questions
Because Sorare users pay for cards and can win prizes, regulators in several countries examined whether it should be regulated as gambling. In the UK, the Gambling Commission investigated whether Sorare required a licence; the company said it was cooperating. France created a specific legal framework for such games. Regulatory decisions in major markets could affect how Sorare operates and what it can offer.
After the NFT boom
NFT trading volumes and prices fell sharply from 2022, affecting companies built around digital collectibles. Sorare responded by reducing costs, emphasising gameplay over speculation and making it easier for new users to play without large purchases. Its long-term success depends on being a compelling fantasy game whether or not cards are seen as investments.
Who uses Sorare
Sorare's users are football, basketball and baseball fans who enjoy fantasy sports and collecting, particularly in Europe and the US.
Valuation context
Sorare's US$4.3 billion valuation was set at the peak of NFT enthusiasm. Many crypto and NFT companies have since raised at lower valuations or been marked down by investors. Our guide to the largest private crypto companies provides context.
Risks
- Market sentiment: demand for digital collectibles is volatile.
- Licensing costs: league and player licences are expensive.
- Regulation: gambling and financial rules may apply.
- Stale valuation: the 2021 mark may overstate current value.
Questions for players
- Which competitions can you join for free?
- How liquid is the market if you want to sell cards?
- What rules apply in your country?
How a Sorare season works
Each week, players choose a lineup of cards representing real athletes, often five for football, and enter competitions with different rules and rarity levels. Points are awarded based on the athletes' real performances in matches that week: goals, assists, saves, minutes played and other statistics. Higher-ranked lineups win rewards, which can include new cards or other prizes. Because card supply is limited and cards can be traded, a player's collection has a market value that changes with athletes' form and popularity. This combination of skill, collecting and trading is what distinguishes Sorare from traditional free fantasy games, and also what attracts regulatory attention.
Licensing as a moat
Sorare spent heavily to secure official licences from football clubs, leagues, the NBA, MLB and players' associations. These licences allow it to use official names, images and branding, which competitors without licences can't. They are expensive and must be renewed, but they create a barrier for new entrants.
Latest developments (October 2026)
Sorare's main 2026 developments are regulatory. France opened a probationary regime for digital collectible games (known as JONUM) through a decree signed in February 2026, overseen by gambling regulator ANJ, as summarised on Wikipedia. In the UK the company has added stricter identity checks, risk warnings and self-exclusion tools. Sorare ran a game tied to the 2026 FIFA World Cup. No new funding has been announced, so the 2021 valuation in our profile is well out of date. See our largest French startups guide.
What to watch
Watch user engagement, regulatory decisions, new licences and any new funding or valuation.
Takeaways
Sports fans can combine collecting and fantasy competition. Founders can see how market cycles affect companies tied to new technologies. Investors should treat its US$4.3 billion valuation as a 2021 peak mark.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Sorare do?
Sorare is a gaming / fantasy sports and digital collectibles company headquartered in Paris, Île-de-France, France. It was founded in 2018.
What is Sorare's valuation?
Sorare was valued at US$4.3 billion as of September 2021, according to Sorare press release (PR Newswire). Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Sorare make?
Sorare is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Sorare's latest funding round?
The most recent financing we have verified is a series b in Sep 2021: US$680M, at a valuation of US$4.3B post-money. Source: SportBusiness.
Who are Sorare's investors?
Investors named in public announcements include SoftBank Vision Fund 2, Benchmark, Accel, Atomico, Bessemer Venture Partners, D1 Capital, Eurazeo, IVP, Headline and Partech.
Who founded Sorare?
Sorare was founded in 2018 by Nicolas Julia (CEO) and Adrien Montfort.
Is Sorare a public company?
No. Sorare is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Sorare headquartered?
Sorare is headquartered in Paris, Île-de-France, France.