Technology News

Rei do Pitaco, the leading daily fantasy sports company in LatAm, through which users draft teams with players from professional soccer leagues and score according to their statistical performance in real-life games, has today announced their $32m Series A round. The startup, which has more than 1.5 million registered users, had already raised $6m in seed money at the beginning of 2021 and this new investments brings total funding to $38m raised in just over 9 months.

In addition to positioning itself as one of the major Series A financing rounds in Brazil , Rei do Pitaco's funding round is also the largest round of funding by a sportstech company in the country. Led by D1 Capital Partners and co-led by Kaszek, Bullpen Capital and Left Lane, the round also had the participation of partners from DST Global - Tom Stafford and Nick Brito - and also from Globo Ventures.

"This round is a very important step in our history. In addition to being a huge validation of the incredible work that our team has been doing over the last few months, it also represents the entry of important strategic partners, which, along with the capital injection, helps the brand to establish itself increasingly more as the leading company for sports entertainment in Latin America ", says CEO Mateus Dantas .

In 2021, the startup managed to grow more than 600% with the seed investment received, which was essential for product development, building the user base and validating the company in this segment.

Now, with the World Cup ahead, the Rei do Pitaco team - which now has 75 employees -, aims to expand its services and reach more customers, seeking to grow 400% with the new Series A funding. The amount will be allocated to hire top talents, improve the product, and acquire more customers.

About Rei do Pitaco
Rei do Pitaco is the leading daily fantasy sports company in LatAm, through which users draft teams with players from professional soccer leagues and score according to the statistical performance of these athletes in real-life games. Unlike other fantasy companies, users compete for prizes on a daily basis.

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SOURCE Rei do Pitaco

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