Sorare has secured backing from existing investors as the Paris-based fantasy sports company attempts to turn renewed growth, a broader free-to-play offering and sharply reduced licensing costs into a profitable business.
Announced on 3rd September, the round includes existing investors Benchmark, Accel, Partech and Kibo Ventures, alongside co-founders Nicolas Julia and Adrien Montfort. Julia told Maddyness the financing amounted to tens of millions of euros, with an initial tranche completed and another expected. Neither the amount nor valuation has been disclosed.
According to Julia, net revenue increased 85% year-on-year in the first half of 2026, with more than 100,000 users buying cards. Sorare now hopes to hit profitability by the end of 2027, a year later than the ambition reported in November 2025.
Central to its product expansion is Arcade, a free-to-play mode built around collecting football cards, assembling teams and progressing through challenges based on players’ performances in actual matches. Players can earn packs through gameplay or use premium currency to expand their collections.
Julia reportedly expects Arcade to generate €15 million to €20 million of net revenue during 2026.
The financing comes five years after Sorare raised $680 million at a $4.3 billion valuation, as investors backed its combination of licensed sports collectibles and fantasy gaming during the NFT boom. Its subsequent restructuring highlights the difficulty of supporting expensive rights agreements when customer spending falls below expectations.
It moved all its games and NFTs to Solana in October 2025.
According to the reporting collated by Sporting Crypto, Sorare has reduced its annual licensing costs fivefold, renegotiating or withdrawing more than €500 million of contractual commitments. The company also reduced staffing and centralised operations in Paris, shutting down its New York office.
Those changes suggest the original cost structure demanded more sustained spending than Sorare could support. Arcade offers a potentially broader audience by allowing fans to develop an interest in playing and collecting before deciding whether to spend. Its commercial challenge is turning that accessibility into repeat engagement and profitable purchases.
However, legal uncertainty remains. Sorare faces prosecution by Britain’s Gambling Commission for allegedly providing unlicensed gambling facilities. It has pleaded not guilty, with trial scheduled for 7th June 2027. Separately, approximately £10 million paid to the Premier League remains frozen under an order connected to the National Crime Agency’s investigation.