FanZ App Scores Big with 5.6 Million Saudi Riyals in Funding

FanZ App Scores Big with 5.6 Million Saudi Riyals in Funding

By Staff Writer, 09 March 2024

The FanZ App, a hub designed specifically for football enthusiasts, has secured an impressive funding round totaling 5.6 million Saudi riyals, equivalent to approximately 1.5 million US dollars.

During this funding endeavor, the app attracted notable participants, including renowned Saudi national team stars Salem Aldwsari and Firas Albrikan, alongside international investment giants such as 500Global and Le Augure, as well as several angel investors.

Since its inception just 15 months ago, FanZ has rapidly grown its user base to an impressive two million users. Khaled Alkhudair, co-founder of FanZ, shared with Goal website that this funding marks a significant milestone in the app's journey, reflecting investor confidence in its potential and business model.

With the newly acquired funds, FanZ is poised to further expand its user base, introduce exciting new features, and explore new markets to solidify its position as a leading platform in the digital sports arena.

Notably, the funding round also saw the enthusiastic participation of notable figures from the Saudi national team, underscoring the app's growing popularity within the football community.

Since its launch in 2022, the FanZ app has transformed the football fan experience by offering engaging prediction contests and fantasy leagues, allowing users to showcase their predictive prowess and curate virtual teams.

Additionally, it serves as a comprehensive resource hub for both local and international football leagues, providing users with access to match schedules, results, events, and statistics.

Source: Waya Media

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