Brazilian fantasy game startup receives investment of R$ 180 million

BRUNO RODRIGUES
sAO PAULO, SP

They work with soccer, they acquired a millionaire contribution in Serie A and have a long-term objective to succeed in Serie D, a stage by which they will elevate much more money for his or her mission. It appears unusual if we predict, for instance, of the divisions of the Brazilian Championship, however on the earth of startups, investment rounds transfer extra money as one advances to Series B, C, D and E. To attain these phases, nevertheless, you will need to have already got a consolidated product and a very good buyer base.

Earlier this yr, startup Rei do Pitaco, a fantasy game platform by which the consumer builds his digital staff and competes for prizes (much like Cartola FC), obtained a contribution of R$ 180 million, from worldwide funds, in a of these Serie A buying and selling rounds.

This is the most important investment obtained by a sportstech in Brazil.
With one other R$ 28 million raised final yr, the corporate from Paraíba Mateus Dantas and Kiko Augusto, which at present has 1.5 million registered clients, plans to reinvest the quantity raised in bettering the product and, consequently, in conquering new gamers for the platform.

The firm at present has 75 staff. According to the duo, the millionaire contribution obtained opened greater than 20 new vacancies to develop the staff. “One factor we discuss loads about when we’re going to elevate these investments, particularly now that the majority of our traders are from overseas [do país], is about how poor the Brazilian sports activities market is in phrases of expertise”, says Kiko, one of the founders of Rei do Pitaco.

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“We come from digital, we have been born in expertise, we have been raised on this atmosphere. And we need to convey expertise to sport. In Brazil, persons are creating fintech, new banking, or one thing associated to well being, healthtech, however the sports activities half stays on the mercy.”

Mateus and Kiko met in 2015. The former was on the time doing an internship at Google, in Warsaw, and the latter lived in England, the place he participated within the Science without Borders program. They have been launched by a mutual pal, who labored at Facebook and is now their companion on the startup.

With the idea of ​​making a fantasy game utility by which customers might assemble digital groups with athletes from the world’s prime groups, they based the platform in 2019, however with a product, in keeping with them, far from superb.


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“I already knew this fantasy game mannequin, which has money prizes and by which you play spherical by spherical. In my thoughts, it was apparent that it might work in Brazil, a matter of time earlier than somebody made it work. An enormous viewers, individuals passionate about soccer… It was an account that, in my head, was closed”, says Mateus.

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“In a dialog through WhatsApp, we determined to make [o Rei do Pitaco]. Three days later, we launched the product, and it did not work. It was apparent: a product launched in three days was not going to work. But we have been each in love with the idea. In 2019, we determined to drop every little thing. I left England and returned to Brazil, Kiko dropped out of college, and we moved to São Paulo. Since then, Rei do Pitaco has been on a development trajectory.”

The game resembles the components of Cartola FC, Grupo Globo’s fantasy game within the Brazilian Championship, however differs, amongst different elements, by the chance for customers to assemble groups from worldwide leagues. To arrive on the product they developed, the creators say they have been impressed by three firms within the subject: Draft Kings and FanDuel, from the United States, and Dream Eleven, from India.

The statistical foundation used to outline participant and staff scores is offered by Footstats.
When a buyer asks, for instance, why an help has not been counted for an athlete from his staff or says {that a} objective recorded as an personal objective ought to have been credited to his striker, Rei do Pitaco makes an evaluation, which is submitted to Footstats. If they take into account that the statistic was actually incorrect, they evaluate the data after which the consumer’s factors.

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At the start of 2022, one of the novelties of Rei do Pitaco is the partnership signed with the FPF (Paulista Football Federation) in order that the platform is the official fantasy of the Paulista Championship.

“We nonetheless want to enhance the product loads. That it really works quicker, that the expertise is extra direct within the app, with much less crashes. And convey new options that we all know our viewers will like. New methods to play, extra competitions, greater prize swimming pools. These are the primary enhancements we would like”, provides Mateus.

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