League11.in, A Leading fantasy gaming platform in India raises venture debt financing from KapTable and AngelBay
Gurgaon, Haryana, India [India], October 12 (ANI/NewsVoir): League11 offers the lowest commission rates of 3% in fantasy gaming space in India which has been made possible due to a full home developed technology product.
The startup, which is profitable, has over 2.0 lakh registered users and has disbursed over INR 90 crores in cash winning to players since Jul 2019
Fanmade11 Fantasy Sports Private Limited https://league11.in/, an online platform offering fantasy gaming for cricket, basketball and football has raised its maiden funding round from KapTable and AngelBay in the form of a venture debt Transaction.
League11, in 24 months has amassed over 2.0 lakh customers mainly in tier 2 & 3 cities of Northern & Central India and has disbursed in excess of INR 90 crores in cash winnings to its users since inception. League11 offers industry-leading commission rates of 3% in the gaming space, driven by a fully homegrown technology stack developed by a talented engineering team. Full Ownership of the technology gives League11 the flexibility to be nimble and to be able to tweak the product with the needs and demands of the users.
Mayank Singh, the CEO & Founder of League11 stated, "We are ecstatic that KapTable and AngelBay have placed their faith in our young team. We have been bootstrapped until now and we plan to use these funds to continue to enthral our users and introduce our Poker product, Justice Poker in this quarter while also expanding our team."
"Shubham Bansal, the Co-founder of League11 and Mayank have been avid gamers and full-time coders and have demonstrated a single-minded vision in developing code and nurturing the young engineers in their team. In League11, we found a team that has developed a world-class product that is significantly ahead of the competition. The singular focus on the mission along with the talent of the team made this investment a no-brainer for us and AngelBay," said Arjun Gopinath, Co-founder of KapTable.
Founded in 2019 by Shubham Bansal (MCA, 6 years experience, ex RenewBuy and avid Coder along with being a die-hard Gamer) and Mayank Singh (BTech with over 10 coding years experience, ex RenewBuy and an avid real money gamer in Poker with a deep understanding of opportunity costs in decision making), League11 has grown to 6 employees and is expecting to hit 3-cr topline in FY22 (up 35% yoy) and aims to grow 12x over the next 3 years. The startup is beta testing its casual gaming segment (like Casual games, ludo and other E-gaming vertices). League11 has introduced an E-gaming vertical in its portfolio recently.
KapTable is a curated online market for Secondary and Primary transactions for Startup shares, providing the right exit avenue for investors seeking early liquidity along with providing capital to startups. more details on https://kaptable.co/
AngelBay is a sector and location-agnostic private angel network which has syndicated investments in over 60 startups. Through an extensive network of over 100+ VC/PE firms, Family offices and Corporates, AngelBay helps the portfolio companies with business development, strategic tie-ups and institutional funding.
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