In Brief:
- Sorare (official site) has pulled in tens of millions of euros from its current investors to bankroll its strategic growth plan.
- The firm is now aiming to reach profitability by the end of 2027, with its new free-to-play Arcade mode as the main engine.
- Legal troubles have not gone away, among them a prosecution brought by the UK’s Gambling Commission over alleged unlicensed gambling activities.
Funding round details
Following an announcement on September 3, Sorare locked in further capital from existing backers, a group that includes Benchmark, Accel, Partech, and Kibo Ventures. Co-founders Nicolas Julia and Adrien Montfort also put money into the round, which Julia said amounted to tens of millions of euros. The initial tranche is closed, though more investment is expected to follow. The company did not reveal a valuation.
Growth momentum
In the first half of 2026, Sorare posted an 85% year-on-year rise in net revenue, with more than 100,000 users buying cards. According to Julia, the company is now working toward profitability by the end of 2027, moving the target from the one it had set in late 2025.
At the heart of the plan sits Arcade, a free-to-play mode in which fans collect football cards, form teams, and participate in challenges based on real-match performances. Packs can be earned through play or unlocked by buying premium currency to build out a collection. Julia forecasts that Arcade could bring in between €15 million and €20 million in net revenue over 2026.
Restructuring efforts
The new money arrives five years on from the $680 million Sorare raised at a $4.3 billion valuation. In the years since, the company has struggled to sustain expensive licensing deals as customer spending came in below expectations. In response, Sorare cut its annual licensing commitments by more than €500 million through renegotiations and contract withdrawals, and it has consolidated operations in Paris after shutting its New York office.
Product expansion and challenges
Arcade is designed to reach a wider audience by letting users engage with no upfront spend, but whether it works depends on sustaining repeat play and turning that activity into revenue. The pivot follows the company’s migration of its games and NFTs to Solana in October 2025.
On the legal side, Sorare is being prosecuted by the UK’s Gambling Commission for allegedly providing unlicensed gaming services. It has pleaded not guilty, with a trial scheduled for June 7, 2027. Separately, roughly £10 million paid to the Premier League is under examination as part of a National Crime Agency investigation.
Even with these headwinds, Julia says his attention remains fixed on getting the company to profitability.