FanDuel and Sequoia founder bet on Draftea's Spanish fantasy sports app - TechCrunch

1641644309 FanDuel and Sequoia founder bet on Drafteas Spanish fantasy sports

Founder Alán Jaime Misrahi grew up specifically for football, eventually playing in the third division in Mexico. Although it was not necessary to go to the "big leagues" playing the sport, his new company Draftea aims to win over 350 million sports fans in Latin America, Jaime Misrahi told TechCrunch in an interview.

Draftea, which calls itself the first Spanish-owned everyday fantasy sports company in Spain, came out of stealth mode today on the heels of a $ 13.2 million fundraiser led by Kaszek with a partnership from Sequoia , Bullpen, and Nigel Eccles, founder and vice president of sports betting giant FanDuel. Eccles chairs Draftea's board.

The investment marks Sequoia's first in a company headquartered in Mexico, half a year after the venture capital firm publish plans to double down on opportunities in Latin America.

The Draftea app charges sports fans to draft a series of players and compete to win daily cash prizes. The platform, which is currently in private beta mode, will be launched sometime in the first quarter of this year. It will initially host Mexico's fantasy football games, although Jaime Misrahi said that the company is aiming to eventually add donations so that they can hold fantasy games for “their all the fun in the world ”.

Various screens on the Draftea App. Image Credit: Draft

“When you think of an area where football is almost a religion, where people come together for a sport-related activity, where stadiums are full, where people enjoy themselves. [sports] as a family tradition, where people in several WhatsApp groups talk about fun and fantasies - we want to bring it all together, ”said Jaime Misrahi from Latin America.

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While sports betting platforms as Betcris of Costa Rica already popular in the region, Jaime Misrahi said Draftea is "a much more social platform." It also differentiates itself by offering everyday games and interactions, as opposed to the less frequently played games with seasonal fantasy platforms that tend to mirror sports tables in the world. -world.

In addition to Jaime Misrahi, the main founding team includes Alejandra Lascurain, who was head of production at the largest neobank in Mexico; Miguel Gutiérrez-Barquín, leading Rappi; Joe Cohen, former head of engineering at Vercel; and Andreas Assad, who worked for EA Sports. Draftea has 34 employees today and expects to double in size over the coming months across all key areas, Jaime Misrahi said.

Draftea Founder and CEO, Alan Jaime Misrahi

Draftea Founder and CEO, Alan Jaime Misrahi. Image Credit: Draft

The team is looking forward to the FIFA World Cup in Qatar in November, which is set to be the biggest live sporting event in the world this year.

“By then, our goal is to have an amazing product, launched in many countries in Latin America, with hundreds, if not thousands or millions, of users involved in the upside. our floor, "said Jaime Misrahi.

Sequoia's Konstantine Buhler met Jaime Misrahi through a tie-up at Stanford, where Jaime Misrahi completed his MBA last year. Buhler directed Sequoia's investment in Draftea, partly because he felt that Jaime Misrahi was an example "fit for the establishment market" because of his interest in sports and experience as a professional footballer. , Buhler told TechCrunch in an email.

"It's all about the love of a messenger," Buhler wrote. Alán and his team will quickly capture the hearts of fans in Mexico and then expand to other countries in time for the World Cup. ”

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