Football fan club Otro nets £50m backing from 23 Capital
Digital football fan club Otro has received backing worth tens of millions of pounds from venture capital firm 23 Capital ahead of its eagerly-anticipated launch today.
Online platform Otro, which provides fans with curated content from global football stars, today revealed it had secured backing following weeks of growing speculation about the new site.
City PM understands the investment from 23 Capital, which provides funding and solutions in the sports, music and entertainment sectors, totals roughly £50m.
Otro has teamed up with footballers including David Beckham, Lionel Messi, and Neymar Jr. to provide video content such as live chats and Q&As.
Otro chief executive Jeremy Dale said: “Football fans all over the world want a deeper connection with their heroes and this is where Otro comes in.
“This line-up of players is beyond even my wildest dreams and I know that fans are going to love them coming together to form one club where they share their stories.”
The platform has been building anticipation for its launch by posting mysterious black-and-white images of the participating players on social media.
23 Capital said it has worked with the fledgling football site to maximise the potential of exclusive intellectual property rights.
Jason Traub, 23 Capital chief executive and founder, said: “23 Capital’s funding and specialist sector knowledge of the sports, music and entertainment industries has been central in helping create and build Otro.”