Rei do Pitaco, a daily fantasy soccer site based in Brazil, has raised a $32 million Series A round. According to the company, its funding round is the largest ever raised by a sports technology company in Brazil.
Rei do Pitaco, which allows users to draft players from various top soccer leagues to compete in daily fantasy contests, has more than 1.5 million registered users. D1 Capital Partners, Kaszek, Bullpen Capital, Left Lane, DST Global, and Globo Ventures—the venture capital arm of Latin American media conglomerate Grupo Globo—were among the Series A investors.
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The new funding brings Rei do Pitaco’s total investment to $38 million. The company currently has 75 employees and will allocate its funds toward hiring new staff and customer acquisition costs ahead of global soccer’s biggest event—November’s FIFA World Cup in Qatar.
