News briefs - Financing – Page 3
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News briefsWIT Fitness’ founders return to the brand
The original founders of specialist training brand WIT Fitness, Sam Kitching and Daniel Williams, are returning to the brand. Frasers Group acquired WIT Fitness in January 2024 out of administration. Kitching and Williams have now bought back a majority stake through Friday&, where Kitching serves as Managing Partner. Frasers will ...
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News briefsVendor of classic jerseys to expand in North America, thanks to outside funding
The Chernin Group (TCG) has invested $38.5 million into Classic Football Shirts (CFS), a mostly online seller of, as the name suggests, football jerseys. The outfit was born in 2006, when founders Matthew Dale and Doug Bierton (CEO), struggling to find an original jersey for the West German team of ...
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News briefsJP Morgan forms new sports-focused investment division
Global financial firm JP Morgan Chase has set up a new “sports investment banking coverage group” to advise clients in an increasingly lucrative industry, according to an internal memo seen by Reuters. The new team will be co-led by Eric Menell, Managing Director, co-Head of North American Media Investment Banking ...
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News briefsBig in South Korea? Alibaba plans to invest $1.1bn
Alibaba Group is set to inject $1.1 billion into South Korea over the next three years, according to a business strategy document cited by South Korean news agency Yonhap on Thursday. The investment aims to establish a logistics center and bolster business operations in the region. Reportedly, the Chinese e-commerce ...
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News briefsFamous non-golfers among PGA Tour Enterprises’ investors
As we have been reporting, the PGA Tour struck a deal with the consortium known as Strategic Sports Group (SSG) to found PGA Tour Enterprises in January and disclosed the member of the venture’s board of directors earlier this month. The PGA Tour has now confirmed a piece in the ...
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News briefsEyewear start-up Out Of raises over €7m in crowdfunding
Out Of, the Italian-based sports eyewear start-up, has raised a total of €7.6 million from approximately 580 investors through a 30-day crowdfunding campaign on Mamacrowd earlier this autumn. According to Italian media, it was the largest ever crowdfunding campaign in Italy, close to the legal €8 million upper limit. New ...
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News briefseBay's new financing option supports circular fashion solution providers
eBay UK has announced a partnership with the British Fashion Council to launch the Circular Fashion Innovator’s Fund, offering £100,000 (€150,000) in funding for small businesses specializing in circular fashion solutions. The fund hopes to bring new technology and services to the market that will make people think and shop ...
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News briefsTech company for shoe fitting secures €14 million in funding
SafeSize, the tech company that helps consumers find the perfect fitting shoes in physical and online stores, has raised €14 million in Series B funding, with the participation of Phaistos Investment Fund as well as existing investors Convent Capital and 3TS Capital Partners. SafeSize will use this capital to expand ...
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News briefsMUOV launches new crowdfunding campaign
MUOV, a London-based indoor cycling brand, has announced a new crowdfunding campaign on Crowdcube. The campaign, which opened to pre-registered users on Nov. 16, will go public on Nov. 28. The new funds are meant to contribute to marketing and fulfilling pre-orders in the U.K. and overseas. MUOV launched the ...
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News briefsSunGod launches new crowdfunding campaign
SunGod has launched a new crowdfunding campaign through Crowdcube. The campaign, dubbed “The 2022 Vision Raise,” went live on Nov. 15. The British performance eyewear brand has a fundraising target of £1 million (€1.1 million), specifically aimed at the next stage of its growth. Thanks to the new funds, the ...
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News briefsTherabody announces $165 million growth equity round
Wellness technology firm Therabody has announced the close of its growth equity round with a total financial backing of $165 million. The capital raise, led by private equity firm North Castle Partners, includes existing investors such as Kevin Hart’s HartBeat Ventures and Aaron Rodgers’ Rx3 Ventures. J.P. Morgan served as ...
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News briefsAdidas supplier NTX closes $200 million funding round
The textile technology company NTX, based in Singapore and Shanghai, has completed the funding of nearly $200 million in a C2 financing round led by Centurium Capital, with additional contributions from existing shareholder NRL Capital. Index Capital served as the exclusive financial advisor. According to a company release, the funding ...
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News briefsKlarna starts $800m fundraising round, but drops in valuation
The Swedish financial technologies company Klarna is raising $800 million in a funding round advised by Goldman Sachs. The sum is planned to flow primarily into the company’s expansion in the U.S., where Klarna has roughly 30 million users. However, Klarna’s current valuation of $6.7 billion is a significant drop ...
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