Start-up with headquarter in St. Gallen closes EUR44m financing round

EQT Expansion Capital II (“EQT Expansion Capital”) has agreed to invest approximately EUR 44 million in Sportradar AG (“Sportradar” or the “Company”), the leading supplier of sports related live data, odds solutions and fraud detection services to bookmakers, media companies, sports federations and government agencies. As part of the transaction EQT Expansion Capital will become a minority investor and provide growth capital to finance Sportradar’s further organic and acquisitive development. Sportradar has an enterprise value, before EQT Expansion Capital’s investment, of EUR 127.5 million.
 
The Company’s founder and CEO, Carsten Koerl, as well as Sportradar’s management will remain shareholders in Sportradar and will continue to lead Sportradar’s further development and growth after the transaction.
 
“We are delighted about the partnership with EQT Expansion Capital. It is the right moment for this strategic co-operation as there are huge opportunities for Sportradar in the marketplace. Combining with EQT Expansion Capital, with its great experience of backing successful companies, and EQT’s network of industry contacts means we are confident of continuing Sportradar’s success story in the future. With our new investor, our financial firepower has improved significantly. The transaction supports our aggressive future growth strategy and will provide access to exciting new business opportunities”, says Carsten Koerl, CEO of Sportradar.
 
Koerl, who was one of the co-founders of bwin, founded Sportradar in 2007. The company with operations in several European countries has it’s headquarter in St. Gallen. An older but nevertheless interesting interview with Koerl can be found on the website of Swiss Television (in German).