Thank you
and 14,891 other great people from the FinTech community for signing up for my LinkedIn newsletter this week!
First of all, I want to thank you, and 14,891 other great people from the FinTech community, for signing up for my LinkedIn newsletter this week! 🎉
This amount of subscribers in just one week is truly amazing and I can’t tell you how happy and motivated I am to work more to create better content for you!
Especially now that we are getting back to normal again and going back to offices is a reality. Don’t you want to be the one showing off near the coffee pot talking about the latest news in FinTech? I’ll make sure you will ;).
Follow me on Linkedin, Twitter, Telegram, listen to my Podcast, and/or sign up for one of my FinTech News newsletters to make sure you are up to speed before you start your day at the office!
My take on the news:
There is a trend going on: where FinTech startups sign sponsor deals with sports teams.
“Startups have historically shied away from [these types of sponsorship],” says Cazoo CEO and founder Alex Chesterman. “But there’s been a shift where younger companies are starting to look at this as an interesting part of the brand mix.”
For a consumer company growing quickly often means establishing “cultural relevance” and credibility.
“These big partnerships help us build cultural relevance with our customers, and that feeds into a long-term brand,” Zapp’s O’Hear tells Sifted “We’d rather spend money doing some of these partnerships than just throwing money at Facebook ads.”
And to me, it makes complete sense. Sponsoring a major sports team is a good way to create a meaningful connection with a large, loyal and engaged community/fanbase.
For me personally for example I can’t think of a better influencer than Ajax. So I think this is a very smart move from the startups that can now afford it because of the major funding rounds in the FinTech space.
Some of the most interesting sponsor deals I came across recently are:
YIELD App has become the Official Digital Asset Wealth Management Partner of top Premier League football club, West Ham United, where YIELD App users will now benefit from the opportunity to experience hospitality at West Ham United home fixtures, through regular competitions throughout the season.
Commenting on the partnership, Justin Wright, Chief Operations Officer of YIELD App, says:
“‘We are delighted to partner with West Ham United. The club’s incredible community-driven strategy and its long-term vision for success are on par with ours. We look forward to developing a lasting relationship with the Club and all its fans around the world.”
Nathan Thompson, Commercial Director at West Ham United, said:
“Today, we welcome YIELD App to the West Ham United partner family. We believe YIELD App will provide our growing fanbase with the education, and access to, some of the best investment opportunities. Our partnership will enable our fans to take advantage of these opportunities regardless of their financial or technical knowledge.”
It’s all about the community you are tapping into.
Digital mortgage broker Habito has partnered with the UK’s skateboarding governing body to tap into the community aspect of the skating scene.
It hasn’t just painted its name on a number of skateboarding events, and the partnership will also see Habito invest in developing “skateable spaces” across the UK.
A startup that is really nailing this strategy is Sokin. It has put money behind a deal with football clubs Arsenal, as well as Everton, Fulham, and Monaco. And recently NFL teams like the Miami Dolphins. On top of that, they also closed a deal with former England international Rio Ferdinand as an ambassador and investor.
I think we will see more and more sport sponsorship deals like this take place in 2022.
My advice to startups:
Sign a sponsor deal with a cycling team that is racing the Tour de France and you’ll get the most return on your sponsor dollar. Interested? Shoot me a message!
Promising startups
If you’ve follow me for a while you’ll know I was on the lookout for an open banking payments startup. I did my research in recent months and I found my winner!
I also have managed to get a small extra allocation for other investors from my network to join in this oversubscribed Series A deal. So if you are interested, sign up for my syndicate so I can share more deal info and you might be one of the lucky ones to join!
Another segment that is booming is Revenue Based Financing.
Check out the article that I published last week:
If you know of any early-stage startups in this segment for me to keep an eye on, please let me know! I would like to find the winner in this segment as well!
I want to close this email by thanking you once again for your ongoing support, I really appreciate it
Have a great Sunday and talk soon!
Cheers,
Marcel.